NEW YORK, Jan. 30 (Xinhua) -- Crude futures traded higher Wednesday after the U.S. Federal Reserve cut key interest rate by a half percentage point.
The Energy Department's Energy Information Administration said crude and gasoline stocks rose by 3.6 million barrels each during the week ended Jan. 25, and gasoline inventories to rise by 1.9 million barrels.
Meanwhile, a 315,000 barrel per day Canadian oil sands field has been temporarily shut down due to freezing temperatures. Canada is the single largest supplier of crude oil to the United States.
Light, sweet crude for March delivery rose 69 cents to settle at 92.33 U.S. dollars a barrel on the New York Stock Exchange.
The Energy Department's Energy Information Administration said crude and gasoline stocks rose by 3.6 million barrels each during the week ended Jan. 25, and gasoline inventories to rise by 1.9 million barrels.
Meanwhile, a 315,000 barrel per day Canadian oil sands field has been temporarily shut down due to freezing temperatures. Canada is the single largest supplier of crude oil to the United States.
Light, sweet crude for March delivery rose 69 cents to settle at 92.33 U.S. dollars a barrel on the New York Stock Exchange.
