Overview

• Benchmark Brent crude rose $3.19 to $76.42 per barrel following the drawdown report.
• The Energy Information Administration reported U.S. crude inventories fell by 11.5 million barrels to 420.9 million in the week to June 13.
• Department of Energy data showed Strategic Petroleum Reserve holdings climbed by 200,000 barrels to 402.3 million.
• Refinery crude runs fell by 364,000 barrels per day and net imports declined by 1.75 million barrels per day.
• Stocks at Cushing, Oklahoma, the key delivery hub for U.S. futures contracts, dropped by 995,000 barrels.