© Archyde.com. An oil pump in Texas, USA – Photo from Archyde.com archive.
NEW YORK (Archyde.com) – It rose nearly 1 percent on Thursday, following posting its biggest two-day loss at the start of a year in three decades, as US data showed that lower fuel inventories provided support.
The Energy Information Administration said US gasoline inventories fell by 346,000 barrels last week, compared to analysts’ expectations in a Archyde.com poll, for a decline of 486,000 barrels.
Crude futures closed up 85 cents, or 1.1 percent, at 78.69 a barrel. US West Texas Intermediate crude rose 83 cents, or 1.2 percent, to $73.67 a barrel.
(Prepared by Ali Khafaji for the Arabic Bulletin – Editing)
