NEW YORK: Crude oil prices rose on Wednesday after the International Energy Agency (IEA) said a global surplus of crude was starting to shrink, even though U.S. data showed another big increase in domestic inventories due to Hurricane Harvey.U.S. Energy Information Administration (EIA) data showed a build of 5.9 million barrels of crude last week, exceeding expectations. crude settled up $1.07, or 2.2 percent, to $49.30 per barrel and Brent crude was up 89 cents to $55.16 a barrel.U.S. gasoline stocks slumped 8.4 million barrels, the largest weekly decline since data began in 1990. Distillate stocks fell 3.2 million barrels.

Source: The Star September 13, 2017 19:41 UTC