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U.S. oil futures settle at a more than 3-week high

us oil futures settle at a more than 3 week high

Oil futures climbed on Wednesday, with U.S. prices settling at their highest in more than three weeks. Prices found support after the Energy Information Administration reported weekly declines in U.S. crude and gasoline inventories, and as recent reports said Iran may be preparing an attack on Saudi Arabia. Oil prices continued higher after the Federal Reserve approved an increase of 0.75 percentage points in its benchmark interest rate. U.S. benchmark West Texas Intermediate crude for December delivery CLZ22, +1.11% rose $1.63, or 1.8%, to settle at $90 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since Oct. 10, FactSet data show.

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