Commodity Capsule: Brent crude oil climbs; Gold slips | Watch video
Commodity Capsule: According to the American Petroleum Institute, US crude oil stockpiles rose last week by about 1.6 million barrels, against analysts expectations for a drop of about 300,000 barrels.
Commodity Capsule: Oil prices climb as markets focus on supply tightness
Oil prices marked a swift recovery, from two-week lows in the last session, on Wednesday as markets focused on supply tightness heading into winter and a "soft landing" for the US economy.
According to the American Petroleum Institute, US crude oil stockpiles rose last week by about 1.6 million barrels, against analysts' expectations for a drop of about 300,000 barrels.
Markets continued to worry about US crude stockpiles at the Cushing, Oklahoma, storage hub falling below minimum operating levels.
Further, drawdowns at Cushing could provide new upward pressure on oil markets along with supply tightness stemming from supply cuts by OPEC+.
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