Crude oil futures settle higher on Wednesday
Crude oil inventories in the U.S. increased by much more than expected in the week ended March 13, 2026
Crude oil futures settled higher on Wednesday as private report indicated an airstrike. The report said Israeli airstrikes hit a facility on South Pars natural gas field in southern Iran. Traders remained cautious as a data released by the Energy Information Administration (EIA) showed crude oil inventories in the U.S. increased by much more than expected in the week ended March 13, 2026. The EIA said crude oil inventories rose by 6.2 million barrels last week after climbing by 3.8 million barrels in the previous week.
Benchmark crude oil futures for April delivery increased $0.11 or 0.11% to settle at $96.32 a barrel on the New York Mercantile Exchange. Brent crude for May delivery surged $3.96 or 3.83% to settle at $107.38 a barrel on London's Intercontinental Exchange.
