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US crude stocks rise more than expected last week
The Energy Information Administration reported a buildup of 3.6 million barrels in US crude stocks last week to a total of 433.8 million barrels, while analysts expected a build of 0.2 million barrels.
Gasoline stocks fell by 1.4 million barrels to 246.8 million barrels, while distillate stocks fell 1.3 million barrels to 119.2 million barrels.
Wall Street climbs on optimism about reducing tariffs
US stock indices rose on Wednesday amid optimism after statements by Trump officials on tariffs.
MoreUS private sector adds less jobs than expected in February
The US private sector added 77 thousand jobs in February, far below estimates of 141 thousand, and down from 186 thousand in January.
MoreOil prices hover near six-month low as global trade wars erupt
Global oil prices fell in European trade on Wednesday on track for the fourth profit in a row, with US crude trading near four-month lows, while Brent traded near six-month lows as the global trade war erupted, threatening global growth and fuel demand.
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