Mubasher: Oil futures settled higher on Wednesday on the back of a drop in US domestic crude inventories.
May Nymex WTI rose $0.94, or 1.6%, to close at $60.23 per barrel.
The Energy Information Administration (EIA) stated that US crude oil inventories dropped by 9.6 million barrels to 439.5 million barrels in the week ended 15 March.
Source:
Mubasher
