Oil

There are concerns that U.S. sanctions against Iran will tighten global supply.

Storm shifted eastward reducing its threat to producers.

A hurricane, an uptick in violence in Libya and drop in Iranian supply support prices.

Anadarko Petroleum said it had evacuated and shut production at two oil platforms.

Trade disputes could start to drag on economic growth and, by extension, fuel demand.

U.S. commercial crude inventories fell by 2.6 million barrels.

U.S. crude inventories rose by 38,000 barrels to 405.7 million barrels in the week to Aug. 24.

Investors are more confident that supply is likely to fall short of demand in the coming months.

International markets see the US-China trade spat as a drag on economic growth.

US crude inventories fell by 5.2 million barrels in the week to Aug. 17 to 405.6 million barrels.

Traders said U.S. markets were lifted by a tightening outlook for fuel markets in the coming months.

The position was outlined in a memo released last month in support of the administration's proposal to relax fuel mileage standards.

Both benchmarks lost more than 2 percent during the previous day's trading.

Official U.S. fuel inventory data is due to be published later on Wednesday.

OPEC expects world oil demand to grow by 1.43 million bpd in 2019, down from 2018.