Oil rises 24 cents, settling at $62.02, as market shrugs off jump in US crude stockpiles (cnbc.com)

Oil futures edged up on Wednesday as worries that rising tensions in the Middle East could hit global supplies overshadowed an unexpected build in U.S. crude inventories.

U.S. West Texas Intermediate crude futures settled 24 cents higher at $62.02 per barrel. Brent crude futures rose 53 cents to $71.77 a barrel.

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

Crude stocks swelled by 5.4 million barrels, surprising analysts who had expected a decrease of 800,000 barrels.

More detail at https://www.cnbc.com/2019/05/15/oil-market-us-crude-stockpiles-middle-east-tensions-in-focus.html

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