Oil firms on Middle East uncertainty, shrugs off U.S. crude build - Reuters

Oil firms on Middle East uncertainty, shrugs off U.S. crude build - Reuters:

Oil futures inched up on Wednesday as the prospect of mounting tensions in the Middle East hitting global supplies overshadowed an unexpected build in U.S. crude inventories.

Brent crude settled at $71.77 a barrel, gaining 53 cents or 0.7%. West Texas Intermediate (WTI) crude futures settled at $62.02 a barrel, climbing 24 cents or 0.4%.

U.S. crude inventories rose unexpectedly last week to their highest since September 2017, while gasoline stockpiles decreased more than forecast, the Energy Information Administration (EIA) said.