COMMODITY
Crude oil futures end higher on Wednesday
Mar-26-2020

Crude oil futures ended higher on Wednesday as optimism surrounding the $2 trillion US economic stimulus package eventually helped to calm some worries about growing supply amid a price war between Saudi Arabia and Russia. Meanwhile, data released by the Energy Information Administration (EIA) showed crude oil inventories in the US rose by 1.6 million barrels for the week ended March 20, against expectations for a 2.8 million barrels increase. The EIA data also showed supply declines of 1.5 million barrels for gasoline and 700,000 barrels for distillates.

Crude oil futures for May rose 48 cents or 2 percent to settle at $24.49 a barrel on the New York Mercantile Exchange. May Brent crude gained 24 cents or 0.9 percent to settle at $27.39 a barrel on London's Intercontinental Exchange.

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