NEW YORK, May 12 (Xinhua) -- Oil prices rose on Wednesday after data showed a fall in U.S. crude stockpiles.
The West Texas Intermediate for June delivery added 80 cents to settle at 66.208 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery increased 77 cents to close at 69.32 dollars a barrel on the London ICE Futures Exchange.
U.S. crude oil inventories decreased by 0.4 million barrels during the week ending May 7, the U.S. Energy Information Administration said in a report on Wednesday.
At 484.7 million barrels, U.S. crude oil inventories were about 2 percent below the five-year average for this time of year.
Traders also eyed updates on a vital U.S. fuel pipeline.
Colonial Pipeline Company, operator of the pipeline carrying gasoline and diesel fuel to U.S. east and southeast parts, said on Tuesday that the company continued to make forward progress toward returning its pipeline system to service.
However, a growing number of gas stations along the U.S. east coast are without fuel as the panic-buying increases amid concerns over the shortage of gas.
Colonial Pipeline temporarily halted all pipeline operations after a cyber attack involving ransomware was detected on Friday. Enditem
