Oil Surges the Most in Two Weeks After U.S. Inventories Decline
- EIA reports 2.1 million-barrel drop in crude stockpiles
- Venezuelan proposals for oil-producers summit `advancing'
Oil Rises for Second Day, What's Next?
This article is for subscribers only.
Oil rose the most this month after a government report showed U.S. crude inventories declined as refineries bolstered operating rates.
Stockpiles slipped 2.1 million barrels last week, according to the Energy Information Administration. Refineries increased operating rates for the first time since July, and supplies of gasoline and distillate fuels surged. Stocks of oil exploration and production companies rallied, while those of refiners fell.