Crude oil futures rose Wedneday despite confirmation that U.S. oil stockpiles jumped last week.
The Energy Information Administration reported a 6.8-million-barrel build in U.S. crude oil inventories for the week ending January 26. That’s a much larger build than analysts were expecting.
However, gasoline stockpiles fell by 2 million barrels, trimming recent inventory gains.
March WTI oil gained 23 cents, or 0.4%, to settle at $64.73/bbl.
Private sector payrolls jumped by 246,000 in December, beating expectation for modest jobs growth, according to ADP.
As expected, the Federal Reserve on Wednesday voted to leave its benchmark interest rate unchanged, in a range between 1.25 percent and 1.5 percent.
The accompanying statement hinted that the Fed will increase the benchmark rate at its next meeting, in late March, thanks to an improving economy and signs of inflation.
The material has been provided by InstaForex Company – www.instaforex.com
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