Oil jumped higher after US crude inventories data

International benchmarks for crude oil rose sharply on Wednesday, 15 September 2021 after data from the Energy Information Agency (EIA) showed a drop of 6.4 million barrels in US crude inventories, to the lowest levels since September 2019. Meanwhile, demand is expected to recover further on escalated vaccine rollout effort.

Brent surged $1.86 or 2.5% to close at $75.46/barrel.

WTI climbed $2.15 or 3.1% to settle at $72.61/barrel.