Oil prices rose more than 1 percent on Wednesday, supported by a drawdown in U.S. crude and gasoline stockpiles and on news of falling Iranian crude shipments as U.S. sanctions deter buyers.
U.S. light crude ended Wednesday's session up 98 cents, or 1.4 percent, at $69.51 a barrel, having touched a three-week high earlier in the session.
Benchmark Brent crude oil rose $1.18, or 1.6 percent, to $77.13 a barrel by 2:25 p.m. ET, after rising to its highest level since July 11.
U.S. crude inventories fell 2.6 million barrels last week, the Energy Information Administration said, exceeding the 686,000-barrel draw forecast by analysts polled by Reuters.
Gasoline stocks fell by 1.6 million barrels, compared with analysts' expectations in a Reuters poll for a 370,000-barrel gain. Distillate stockpiles, which include diesel and heating oil, fell by 837,000 barrels, versus expectations for a 1.6 million-barrel increase, the EIA data showed.