Oil gains 2% on optimism over world economy despite US crude build
NEW YORK (Reuters) -Oil prices rose 2% to a one-week high on Wednesday as hopes for an improved global economic outlook and concern over the impact of sanctions on Russian crude output outweighed a massive surprise build in U.S. crude stocks.
Brent futures rose $1.67, or 2.1%, to $81.77 a barrel by 11:11 a.m. EST (1611 GMT), while U.S. West Texas Intermediate crude (WTI) rose $1.54, or 2.1%, to $76.66.
