Oil Prices End Higher For First Time In Three Sessions

By Myra P. Saefong Markets MarketWatch Pulse

Oil prices settled with a gain Wednesday for the first time in three sessions, with a sharp climb in gasoline prices leading energy futures higher. Data from the Energy Information Administration revealed a 13.8 million-barrel weekly jump in U.S. crude supplies-the second-largest on record-but also showed an unexpected decline in gasoline inventories. March West Texas Intermediate crude rose 17 cents, or 0.3%, to settle at $52.34 a barrel on the New York Mercantile Exchange. March gasoline rose 6.5 cents, or 4.4%, to finish at $1.553 a gallon.

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