U.S. Oil Benchmark Ends Above $51 First Time Since July

By William L. WattsMarketsMarketWatch Pulse

Oil futures ended solidly higher Wednesday, with the U.S. benchmark closing above $51 a barrel for the first time since July 2015. West Texas Intermediate crude for July delivery rose 87 cents, or 1.7%, to finish at $51.23 a barrel. Oil was buoyed by a drop in weekly crude inventories, continued supply disruptions in Nigeria, and strong data on oil imports by China.

Copyright © 2016 MarketWatch, Inc.

Continue Reading Below