1516 ET - Oil futures rise for a third straight day with gains limited by a bigger-than-expected U.S. crude stock build for last week. The EIA said crude inventories rose by 5.5 million barrels, while gasoline and diesel stocks fell by 3.1 million barrels and 3.2 million barrels, respectively. The report "looked surprisingly bullish to both gasoline and diesel but decidedly bearish to WTI," Ritterbusch says in a report, attributing the crude build to higher imports, a quick recovery in U.S. production and a further decline in refinery runs. WTI for March delivery settles up 0.8%, at $73.86 a barrel, and April Brent rises 0.8%, to $79.21. (anthony.harrup@wsj.com)

Source: Wall Street Journal February 08, 2024 06:50 UTC