United States Oil Prices Climb 5%
US Oil
New York - MENA
US Oil prices rose 5%, their biggest advance in three weeks, after the US government reported a surprise draw in domestic crude stockpiles versus market expectations for a new record high.
Crude's front-month contract settled up $1.86 at $37.75 a barrel. It rallied to $37.90 earlier, after falling to $35.24 a day ago, its lowest since March 4. The 5.2% gain was the biggest in a day since March 16.
The front-month in Brent, the European benchmark, settled up $1.97 at $39.84 a barrel. Its session peak was $39.94
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Dubai - Arab Today
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