NEW YORK: Oil prices climbed about 2% on Wednesday on a bigger-than-expected weekly drop in US crude inventories as investors awaited the next steps in talks to end the Ukraine war, with sanctions on Russian crude remaining in place for now.
Brent crude futures were up US$1.05, or 1.6%, to settle at US$66.84 a barrel. US West Texas Intermediate (WTI) crude futures rose 86 cents, or 1.4%, to settle at US$63.21.
