Oil futures rose Wednesday after the U.S. government’s weekly supply snapshot showed declining inventories of crude and distillate fuel.
The U.S. Energy Department report showed a 1 million barrel decline in crude oil inventories and a 3 million barrel decline in distillate fuel.
Light, sweet crude rose 50 cents to $45.90 a barrel in late-morning trade on the New York Mercantile Exchange. In London, Brent crude rose 43 cents to $43.50 on the International Petroleum Exchange.
*For more on this story,
read the full Associated Press article
.