By Yasin Ebrahim
Investing.com - U.S. oil stockpiles fell last week, easing concerns somewhat that rising infections and the accompanying lockdowns could stifle oil demand.
U.S. crude inventories fell by 5.4 million barrels last week, according to an estimate released Wednesday by the American Petroleum Institute, after a build of 951 barrels the previous week.
Crude Oil WTI Futures, the U.S. benchmark for oil, rose 2.19% after settling 2% higher at $41.04 a barrel..
The build comes a day ahead of the official government report expected to show weekly U.S. crude supplies fell by 2.8 million barrels last week.