Oil up 4% as US stockpiles fall, hurricane hits output

Brent crude settled at US$42.22 a barrel, up $1.69, or 4.2%. U.S. crude finished $1.88, or 4.9%.at $40.16 a barrel. U.S. crude stocks fell 4.4 million barrels last week to 496 million barrels, their lowest since April. (US oil storage at Cuushing, Oklahoma. - Reuters)

NEW YORK: Oil prices jumped more than 4% on Wednesday, following a drawdown in U.S. crude and gasoline inventories and as Hurricane Sally forced a swath of U.S. offshore production to shut.

Brent crude settled at US$42.22 a barrel, up $1.69, or 4.2%. U.S. crude finished $1.88, or 4.9%.at $40.16 a barrel.