U.S. Crude Rises on Cushing Slowdown; Discount to Brent Narrows
Weekly Crude Inventories Rise by 10.3M Barrels
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U.S. oil futures gained for a second day, narrowing their discount to international prices as supply growth at the biggest U.S. hub slowed.
West Texas Intermediate oil climbed 2 percent as its discount to Brent shrank to the smallest in two weeks. Stockpiles at Cushing, Oklahoma, the delivery point for WTI futures, increased 536,000 barrels last week, the Energy Information Administration said. Supplies at the hub had grown by more than 1 million every week this year up until now.