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Oil edges up after choppy session on mixed U.S. crude stocks data

Reuters  |  NEW YORK 

By Ayenat MersieNEW YORK (Reuters) - Oil prices gained 0.4 percent in choppy trade on Wednesday, after a report showing a bigger-than-expected U.S. crude stock build was offset by large distillate and gasoline inventory draws.U.S. crude stocks rose by 5 million barrels, the biggest jump since late January, the U.S. Energy Information Administration (EIA) said. Expectations had been for a 2 million barrel build. But there was a larger-than-expected draw on fuel stocks."We're not pressuring the downside that much. Of course, the reason is because we had some unexpectedly large draws in ...

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First Published: Thu, March 15 2018. 01:17 IST
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