The market was also supported by data showing US crude stockpiles fell more than expected earlier this month.
Information released Wednesday by the Energy Information Administration U.S. commercial crude inventories rose by three million barrels in the week to February 23 to a total of 423.5 million barrels.
Olympian, wife and coach from Whistler, BC arrested in Pyeongchang
In Pyeongchang, the legal limit is 0.05, and drunk driving can carry a sentence of three years in prison or a 3 million won fine. Duncan's wife Maja and manager Willy Raine were also arrested, the Canadian Olympic Committee (COC) said.
Bloomberg reported that OPEC and its allies including Russian Federation may next year ease the crude-output curbs that have helped prices recover from the worst crash in a generation, according to Saudi Arabia's oil minister.
Next half of the year will pull up the oil market again, says Joel Hancock, an analyst of Natixis. Brent crude futures for the most active May contract were down 84 cents at $65.68 a barrel.
Prices were supported by Saudi Energy Minister Khalid al-Falih, who said on Saturday the country's January-March crude production would be well below output caps, with exports averaging less than 7 million barrels per day.
The prices for oil grow at the expense of strict discipline Saudi Arabia, easing concerns about oversupply of oil in the United States and the disruption of supplies from Libya.
QB Bortles signs contract extension with Jaguars
We've been examining this year's quarterback class - both free agency and the NFL Draft - since before the 2017 season even began. The Jaguars are committing to Bortles as their guy, re-signing him to a three-year contract extension through the 2020 season.
Gasoline futures lost 2.2 percent to $1.7636 a gallon. Analysts had expected an increase of 2.1 million barrels.
The rise in inventories came even as refineries boosted activity in the most recent week.
Two of the most-watched members of the Organization of Petroleum Exporting Countries sent less crude to the USA - one by choice, and one not so much. In addition to its weekly statistics, the EIA will also publish a monthly report on crude supply, which may show substantial upward revisions in crude output. Mind you, the US production now stands at highest level since the early 1970s. While America continues to pump record volumes, accompanied by an increase in exports, Al-Falih said the global oil market is re-balancing and bloated inventories are shrinking. That's a very strong 10% rise in less than 2 weeks, in fact the upwards velocity is virtually on par with the earlier price plunge which suggests that the oil market price gyrations are definitely falling prey to external market volatility such as that of USA bonds and stocks which means whilst the oil price target for 2018 remains at $80. A stronger dollar makes oil more expensive for holders of other currencies.
Mexican president's visit to White House postponed after testy Trump call
Mexican officials had been talking about a summit between Trump and Pena Nieto in the next few weeks, without specifying when. But Tuesday's conversation did not go well, both sides told The Washington Post .