Economic news

Oil climbs to six-week peak amid declines in U.S. crude supplies

Oil prices were in track to reach their top in six weeks on Wednesday after an unexpected fall in U.S. crude inventories.

Photo: Reuters

May Brent crude rose 84 cents to $68.26 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained 68 cents to $64.22 per barrel.

U.S. crude stocks dropped by 2.6 million barrels in the week ended March 16 to 425.3 million, according to fresh data from the U.S. Energy Information Administration.

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