Oil goes up at Wednesday’s settlement

Oil goes up at Wednesday’s settlement

Mubasher: Oil futures settled higher on Wednesday, as US inventories rose.

June Nymex WTI rose $0.24, or 0.4%, to close at $62.02 per barrel. 

The Energy Information Administration (EIA) reported on Wednesday that US crude oil inventories climbed by 5.4 million barrels to 470 million barrels in the week ended 10 May.