Oil prices jumped about 3% on Wednesday after the U.S. government reported a larger-than-expected gasoline inventory drawdown that offset a surprise build in crude stockpiles.
Figures released Wednesday by the Energy Information Administration showed U.S. crude inventories rose 1.4 million barrels last week, compared with analysts' expectations for a decrease of 1.4 million barrels.
Other figures showed that gasoline stocks fell by 3.3 million barrels, compared with forecasts for a 200,000-barrel drop.
Preliminary weekly production data indicated that U.S. output fell below 8.5 million barrels per day.
U.S. West Texas Intermediate settled up $1.32, or 3.3%, at $40.83 U.S., and last traded up $1.37, or 3.5% at $40.87 U.S., mid-afternoon Wednesday.
International Brent crude rose $1.33, or 3.2%, to $43.13 U.S. per barrel. It reached $41.51 U.S. on Tuesday, its lowest since April 18.
