Oil Gains, Lower US Crude Stockpiles Provide Floor
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Oil prices rose over 1% on Wednesday as an industry report showed U.S. crude inventories declined last week, adding to a sense in the market of tightening supplies amid export issues in Kurdistan and Venezuela and disruptions to Russian supplies.
Brent futures were up 97 cents, or 1.4%, to $68.60 a barrel at 1321 GMT. U.S. West Texas Intermediate crude futures were up 99 cents, or 1.6%, to $64.40.
Prices extended gains after Ukraine's military said it struck two oil pumping stations overnight in Russia's Volgograd region. A state of emergency had been declared in the Russian city of Novorossiisk, which is Russia's major seaport on the Black Sea and contains major oil and grain export terminals...
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