Oil prices jumped more than 3 percent on Wednesday after the U.S. government reported crude inventories fell unexpectedly for the first time since March, adding to concerns over supply disruptions in Canada and Nigeria.
The U.S. Energy Information Administration (EIA) said crude inventories fell 3.4 million barrels last week, compared with analysts' expectations for an increase of 714,000 barrels and the American Petroleum Institute's (API) build of 3.5 million barrels in preliminary data issued on Tuesday.
The EIA report "has been quickly viewed as bullish, with the crude draw just about exactly opposite to what API had," said Dominick Chirichella, senior partner at the Energy Management Institute in New York.
Motor gasoline stocks also fell 1.2 million barrels, and distillate fuel inventories were down 1.6 million barrels.
International Brent crude oil futures were up $1.98, or 4.3 percent, at $47.51 per barrel. U.S. West Texas Intermediate (WTI) crude futures settled 3.5 percent higher, or $1.57, at $46.23, a six-month high.