The West Texas Intermediate for October delivery increased 1.6 U.S. dollars, or nearly 2 percent, to settle at 83.54 dollars a barrel on the New York Mercantile Exchange. Brent crude for November delivery added 1.15 dollars, or 1.3 percent, to close at 89.15 dollars a barrel on the London ICE Futures Exchange.
The U.S. Energy Information Administration reported Thursday that the nation's commercial crude oil inventories increased by 8.8 million barrels during the week ending Sept. 2. Analysts polled by S&P Global Commodity Insights had forecast U.S. crude supplies to show a fall of 1.8 million barrels.
According to the EIA, total motor gasoline inventories rose by 0.4 million barrels from last week, while distillate fuel inventories increased by 0.1 million barrels.
On Wednesday, both the U.S. crude standard and Brent shed more than 5 percent to finish at their lowest levels since January, as demand fears prevailed.
Latest comments