Oil prices extended gains after EIA report

International benchmarks for crude oil settled higher on Wednesday, 25 May 2022 supported by the persistently tight supply and report of the growing fuel demand in the US ahead of the summer season. According to the Energy Information Agency (EIA), US refiners run at 93.2% of their operable capacity in the week to 20 May, the highest levels in years with exports of refined product surging to 6.325 million barrels.

Brent rose 47 cents to settle at $114.03/barrel. 

WTI settled up 56 cents at $110.33/barrel.