U.S. crude oil price bounced above 100 dollars on Wednesday as U.S. crude inventories remained almost unchanged last week.
The Energy Information Administration said on Wednesday the crude inventories fell 15,000 barrels in the week ending May 13 as oil import fell and demand of refineries rose. This was far below analysts' estimates of a 1-million-barrel rise, ending inventories ' three week straight increase.
And the gasoline inventories added moderately by 119,000 barrels, missing forecast of 800,000 barrel build. New York gasoline future also rebounded over 1 percent.
Besides, after the sharp drop in recent days, the traders and investors started to revaluate the markets risks and choose to buy at low prices.
Light, sweet crude for June delivery rebounded 3.19 dollars, or 3.29 percent to settle at 100.10 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude for July delivery also rose and last traded above 112 dollars a barrel.
