Oil futures Thursday settled at their highest settlement in almost two weeks after data showed the largest drop in crude supplies in 17 years. October West Texas Intermediate crude gained $2.12, or 4.7%, to settle at $47.62 a barrel on the New York Mercantile Exchange. The U.S. Energy Information Administration said domestic crude supplies fell 14.5 million barrels in the week ended Sept. 2 versus a 425,000-barrel increase projected by analysts.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.