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Crude oil rose for the first time in three days as U.S. inventories declined more than expected last week. Stockpiles decreased by 4.47 million barrels in the week ended Aug. 15, the Energy Information Administration said in a weekly report. Analysts had expected a drop of 1.8 million. The refinery utilization rate rose for the first time in five weeks.
October WTI futures gained 0.25% to $93.11 a barrel on the New York Mercantile Exchange. The September contract, which expires today, rose 0.79% to $95.27.
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