Oil rose more than 2% despite US crude inventories data

International benchmarks for crude oil added more than 2% on Wednesday, 8 June 2022 despite the report from the EIA showing 2 million barrels increased in the US commercial crude stocks last week. The market paid more attention to the declining gasoline stocks regardless of the record price, while recovering demand in China is now facing heightened supply tightness. 

Brent gained $3.01 or 2.5% to settle at $123.58/barrel.

WTI jumped $2.70 or 2.3% to close at $122.11/barrel.