Oil prices extended gains Wednesday as official data showed a larger-than-expected drop in U.S. crude stockpiles.
U.S. crude inventories decreased by 4.9 million barrels to 419.5 million barrels last week, touching the lowest level since August, 2015, the U.S. Energy Information Administration (EIA) said in its weekly report Wednesday.
Meanwhile, in the latest week, U.S. output fell by nearly 300,000 barrels a day to 9.49 million barrels a day, according to the EIA.
Oil prices were also supported as the U.S. dollar fell against other major peers on Wednesday, as a weaker greenback made the dollar-priced commodity more attractive for buyers holding other currencies.
The dollar index, which measures the greenback against six major peers, was down 0.19 percent at 92.351 in late trading.
The West Texas Intermediate for February delivery increased 0.61 U.S. dollar to settle at 63.57 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery added 0.38 dollar to close at 69.20 dollars a barrel on the London ICE Futures Exchange.
Editor：Amber
