Oil prices rose Thursday after government data showed an unexpected decline in U.S. crude stockpiles amid steady production and rising exports. Light, sweet crude for April delivery advanced $1.30, or 2.1%, to $62.98 a barrel on the New York Mercantile Exchange, trading at a two-week high. Brent, the global benchmark, gained $1.07, or 1.6%, to $66.49 a barrel. The U.S. Energy Information Administration on Thursday reported that the amount of crude in storage fell by 1.6 million barrels in the week ended Feb. 16. Analysts surveyed by The Wall Street Journal expected stockpiles to rise by 1.9 million barrels last week. Gasoline stockpiles rose by 300,000 barrels, and stocks of distillates declined by 2.4 million barrels. Weekly U.S. production fell by 1,000 barrels from a record high. ”For a little bit of a bullish boost, you’ve got all the planets lined up here after this report,” said Bob Yawger, […]

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