Oil futures reversed early losses to end solidly higher Wednesday. Crude futures fell more than 1% in early trade after the Biden administration urged the...
Oil futures reversed early losses to end solidly higher Wednesday.
Crude futures fell more than 1% in early trade after the Biden administration urged the Organization of the Petroleum Exporting Countries and its allies to boost output, but rebounded over the course of the session, helped in part by data showing a fall in U.S. crude and gasoline inventories last week, analysts said. West Texas Intermediate crude for September delivery CL00, +1.45% CLU21, +1.45% rose 96 cents, or 1.4%, to end at $69.25 a barrel on the New York Mercantile Exchange.
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