- West Texas Intermediate crude for September delivery rose $1.43 per barrel, or 1.6%, to close at $91.93 a barrel on the New York Mercantile Exchange.
- October Brent crude the global benchmark, gained $1.09, or 1.1%, to settle at $97.40 a barrel on ICE Futures Europe.
- Back on Nymex, September gasoline jumped 3.7% to finish at $3.0703 a gallon, while September heating oil rose 2.3% to $3.4103 a gallon.
- September natural gas jumped 4.7% to end at $$8.202 per million British thermal units.
Reason Global Oil Price Bounces On Wednesday
Global oil price bounces on Wednesday, ending higher than Tuesday after a drop in the United States gasoline inventories.
Oil futures finished higher Wednesday, erasing earlier losses after government data showed a bigger-than-expected drop in U.S. gasoline inventories and a jump in refinery utilization, though crude inventories jumped.