Published August 3, 2016 2:38pm EDT | Updated August 3, 2016 3:04pm EDT

Oil Futures End 3.3% Higher After Drop In Gasoline Inventories

Oil futures ended sharply higher Wednesday, with the U.S. benchmark finishing back above $40 a barrel after government data showed a larger-than-expected drop in gasoline inventories last week. West Texas Intermediate crude for September delivery rose $1.32, or 3.3%, to close at $40.83 a barrel.