Oil prices rose by regarding 1 percent following recording the largest two-day loss at the beginning of a year in three decades, as US data showed that low fuel stocks provide support.
The Energy Information Administration said US gasoline stocks fell by 346,000 barrels last week, compared to analysts’ expectations in a Archyde.com poll, for a decline of 486,000 barrels.
Brent crude futures closed up 85 cents, or 1.1 percent, at $78.69 a barrel. US West Texas Intermediate crude rose 83 cents, or 1.2 percent, to $73.67 a barrel.
