Oil prices jumped more than 3 percent on Wednesday after the U.S. government reported a larger-than-expected weekly drawdown in crude inventories, adding fuel to an existing rally on fading concerns over Britain's exit from the European Union.
The potential for an oil workers strike in Norway and a crisis in Venezuela's energy sector also added support to crude futures.
The U.S. Energy Information Administration said crude stockpiles fell by 4.1 million barrels for the week to June 24, the sixth consecutive week of drawdowns.
That was more than the 2.4 million barrels expected by analysts in a Reuters poll. The American Petroleum Institute trade group had published a drawdown similar to the EIA's on Tuesday, boosting crude futures in post-settlement trade.
"The report is bullish with the large crude oil inventory decrease of over 4 million barrels," said John Kilduff, partner at New York energy hedge fund Again Capital. "The stepped-up demand by refiners and a plunge in imports helped create the decline."