Oil advanced after declining US crude, gasoline and distillate stockpiles signaled healthy demand during the nation’s summer driving season.
Futures rose as much as 1.3 per cent in New York on Wednesday. A US government report showed crude supplies slid to the lowest since January 2020 and distillate stockpiles posted the biggest decline since April. Fuel inventories fell by more than 2 million barrels last week, the data showed.
