Oil rebounds to end sharply higher after inventory data [MarketWatch]
CME Group Inc. - Class A (CME)
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Source: MarketWatch
Oil rebounds to end sharply higher after inventory data Oil futures rebounded from early losses, ending sharply higher after a smaller-than-expected rise in U.S. crude inventories. West Texas Intermediate crude for March delivery CLH8, +2.70% on the New York Mercantile Exchange rose $1.41, or 2.4%, to settle at $60.60 a barrel after earlier trading as low as $58.20. Oil bounced back from earlier weakness after the Energy Information Administration said crude stockpiles rose 1.8 million barrels last week. Analysts surveyed by The Wall Street Journal had forecast, on average, a 2.6 million barrel rise.
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