COMMODITY
Crude oil futures end higher on Wednesday
Mar-13-2025

Crude oil futures ended higher on Wednesday, after data showed a smaller than expected increase in crude oil inventories in the U.S. in the week ended March 7th. Data showing a smaller than expected rise in U.S. consumer prices, and a subdued dollar contributed as well to the rise in oil prices. However, worries about tariffs and their possible impact on global economic growth and oil demand outlook limited the commodity's upside. Meanwhile, data from the Energy Information Administration (EIA) showed crude oil inventories in the U.S. increased 1.4 million barrels last week, after climbing by 3.6 million barrels in the previous week. Oil inventories were expected grow by 2.1 million barrels.

Benchmark crude oil futures for April rose $1.43 or 2.16% at $67.68 a barrel on the New York Mercantile Exchange. Brent crude for May delivery increased $1.35 or 1.94% to settle at $70.91 a barrel on London's Intercontinental Exchange.

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