MOSCOW (Sputnik) — WTI July futures rose 1.05 percent to $50.08 a barrel, while US benchmark Brent crude oil futures climbed 1.21 percent to $50.34 a barrel.
Figures from Wednesday’s report by the US Energy Department showed that US oil inventories fell by 4.2 million barrels to 537.1 million over the week to May 20 after supplies from Canada dropped.
Canada’s oil output was hurt by wildfires near the city of Fort McMurray, where large reserves of oil sands are located. Additionally, oil production in the United States dropped by 24,000 barrels a day to 8,767 barrels.
