WTI Crude Advances as Cushing Inventories Decline
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West Texas Intermediate crude gained as inventories at Cushing, Oklahoma, decreased for an eighth week and demand for gasoline reached a three-month high. Brent rose for the fourth time in five days.
WTI climbed 1.1 percent, ending above $100 for the first time in a week. Stocks at the WTI delivery point slid 1.33 million barrels in the week ended March 21, the Energy Information Administration said. Gasoline demand exceeded 9 million barrels a day for the first time this year. WTI also rose as a Commerce Department report showed vehicle demand lifted February durable-goods orders.