NEW YORK, July 18 (Xinhua) -- Oil prices went up on Wednesday after official data showed that U.S. gasoline inventories declined more than expected.
The West Texas Intermediate (WTI) for August delivery added 0.68 U.S. dollar to settle at 68.76 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery increased 0.74 dollar to close at 72.90 dollars a barrel on the London ICE Futures Exchange.
The Energy Information Agency (EIA) said in its weekly report on Wednesday that U.S. gasoline inventories fell by 3.2 million barrels last week, while distillate stockpiles, which include diesel and heating oil, fell by 371,000 barrels, higher than market expectations.
Although EIA's report also showed a surprise build in crude inventories last week, investors see the report as mainly supportive for the market.
Meanwhile, supply disruptions in Venezuela also lifted the market as two of the country's four crude upgraders are scheduled to undergo maintenance in the next few weeks. The units have the ability to process a combined 700,000 barrels per day, according to Reuters. Enditem
