The sector saw its fourth consecutive daily gain for the first time since Aug. 18. The Energy Select SPDR Fund gained more than 1 percent, trading above its 30-day average volume of 15.1 million shares. The Fund closed having traded a cumulative volume of more than 17.9 million shares.
U.S. crude stocks dropped by 14.5 million barrels last week, the biggest weekly drop in stockpiles since January 1999, according to the U.S. Energy Information Administration. Experts had expected an increase of 225,000 barrels.