Commodities: Crude jumps on inventories report
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Crude futures came close to $106 a barrel on Wednesday as a government report showed weekly inventories remained broadly unchanged against expectations of a rise.
The May delivery rallied $4.58 to settle at $105.8 on the New York Mercantile Exchange.
The Energy Information Administration said stockpiles held steady at 311.8m barrels last week against expectations of an increase of 1.5m barrels.
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Imports averaged about 8.9m barrels per day, down 570,000 barrels from the previous week, while refineries operated at 82.2% of their capacity.
Gold prices also rallied for a second session on Wednesday due to the weaker dollar and spiking oil prices.
The April delivery rose $14.20 to settle at $949.20 an ounce.
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