Oil tanks

US oil inventories rose by about 8.43 million barrels during the week ended Feb. 23, American Petroleum Institute data showed.

Gasoline stocks decreased by 3.27 million barrels during the past week, while distillate stocks—including diesel and heating oil—fell by about 523,000 barrels.

Brent crude futures for May delivery (the most active) rose by 1.2%, or 99 cents, to close at $82.66 per barrel. The April contract added 1.35% to $83.65 per barrel.

WTI crude for April delivery increased by 1.65%, or $1.29, to $78.87 per barrel, marking the highest close since Nov. 6, 2023 ($79.66).