Oil prices extended gains on Wednesday after official data showed a much-bigger-than-expected decline in U.S. crude stockpiles.
The U.S. Energy Information Administration (EIA) said in a weekly report on Wednesday that the country's crude stocks dropped by 9.9 million barrels last week, marking the largest weekly decline so far this year.
Gasoline stockpiles rose by 1.2 million barrels for the week, while distillate stockpiles were unchanged for the week, according to the EIA.
Meanwhile, U.S. total domestic crude output stood at 10.9 million barrels a day last week, unchanged from the previous week, said the EIA.
The West Texas Intermediate for August delivery jumped 2.23 U.S. dollars to settle at 72.76 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery added 1.31 dollars to 77.62 dollars a barrel on the London ICE Futures Exchange. Enditem
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