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US crude stocks fall unexpectedly after four weeks of buildups
The Energy Information Administration reported a drawdown of 2.3 million barrels in US crude stocks to 430.2 million barrels, while analysts expected a build of 1.7 million barrels.
Gasoline stocks rose 0.4 million barrels to 248.3 million barrels, while distillate stocks rose 3.9 million barrels to 120.5 million barrels.
Wall Street underpinned by tech sector
US stock indices rose on Wednesday as the tech sector rebounded following multiple sessions of losses ahead of Nvidia’s results.
MoreOil extends losses to nine-week trough on global supply concerns
Global oil prices fell in American trade on Wednesday, extending losses for the second session and plumbing nine-week lows on global oversupply concerns, amid increasing odds of a peace deal between Russia and Ukraine, sponsored by the US, which could lead to the lifting of US sanctions on Russian crude exports.
MoreBitcoin hovers near three-month lows on risk aversion
Bitcoin fell on Wednesday on track for the fourth daily loss in a row, trading near three-month lows on risk aversion.
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