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Oil extends gains as U.S. crude stocks fall more than expected

Investing.com - Oil extended gains Wednesday as U.S. crude stocks fell more than expected in the latest week, official data showed Wednesday.West Texas Intermediate was up 1.77% at $48.74 after the data release.The Energy Information Agency said crude inventories fell by 7.208 million barrels after a drop of 4.727 million barrels the previous week.Crude inventories were forecast to fall by 2.692 million barrels.Gasoline stocks fell by 1.015 million barrels after a fall of 4.445 million barrels the previous week.Gasoline inventories were expected to fall by 614,000 barrels.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.