U.S. oil prices jumped this morning, trimming some of this week's losses after U.S. stockpiles rose less than expected and on expectations that demand will increase as some European countries and United States cities moved to ease coronavirus lockdowns.
WTI crude futures climbed to a high of $14.40 a barrel and were up 15.4%, or $1.90, at $14.24 at 02:33 GMT, paring a 27% plunge over the first two days of this week.
Brent crude futures rose 4.6%, or 93 cents, to $21.39 a barrel, adding to a 2.3% gain on Tuesday.
US crude inventories rose by 10 million barrels to 510 million barrels in the week to April 24, data from industry group the American Petroleum Institute showed on Tuesday, compared with analysts' expectations for a build of 10.6 million barrels, Aljazeera reported.
Oil rises as storage fills up slower than expected
6055 views
