Oil prices rose about 1% after posting the biggest two-day loss at the start of a year in three decades as US data showed tight fuel inventories providing support.
The Energy Information Administration said U.S. gasoline inventories fell by 346,000 barrels last week, compared with analysts’ expectations in a Reuters poll, for a drop of 486,000 barrels.
Brent crude futures finished up 85 cents, or 1.1%, at $78.69 a barrel. US West Texas Intermediate crude oil rose 83 cents, or 1.2%, to $73.67 a barrel.
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