Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female engineer named Morgan Beller.Technologyread more
CoinShares Chief Strategy Officer Meltem Demirors discusses Facebook's Libra project and its impact on the cryptocurrency market after testifying to the House Financial...Fast Moneyread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
* API shows big U.S. crude inventory fall
* Producers begin evacuating Gulf of Mexico rigs
* Interactive graphic on stockpiles: https://tmsnrt.rs/2XkQF8 (Updates prices, adds U.S. military coalition proposal)
LONDON, July 10 (Reuters) - Oil prices rose 2.5% on Wednesday after industry data showed U.S. inventories fell more than expected and as major U.S. producers evacuated rigs in the Gulf of Mexico before a storm.
U.S. West Texas Intermediate (WTI) crude futures climbed $1.58 to $59.41 by 1326 GMT, after hitting a session high of $59.53.
Brent crude futures were up $1.70 at $65.86, but below a session high of $66.00.
Data from the American Petroleum Institute (API) on Tuesday showed U.S. crude inventories fell by 8.1 million barrels in the week to July 5 to 461.4 million, compared with analyst expectations for a decrease of 3.1 million barrels.
Official figures from the government's Energy Information Administration (EIA) are due later on Wednesday.
Major oil firms began evacuating and shutting in production in the Gulf of Mexico after weather forecasts warned that a tropical disturbance might become a storm on Wednesday or Thursday.
"For all the doom-mongering on the demand front, oil prices are getting a much-needed kick up the backside this morning courtesy of Mother Nature," said Stephen Brennock, an analyst with PVM.
Chevron Corp, Royal Dutch Shell, BP and BHP Group are removing staff from 15 offshore platforms. Exxon Mobil said it was "closely monitoring" the disturbance to determine if its facilities might be affected.
The Gulf of Mexico is home to 17% of U.S. crude oil output which stands at around 12 million barrels per day (bpd).
The U.S. and global benchmarks have gained this year as the Organization of the Petroleum Exporting Countries (OPEC) and big producers such as Russia have curbed output to bolster prices.
The alliance, known as OPEC+, agreed last week to extend their supply-cutting deal until March 2020.
Tensions around Iran's nuclear program and recent incidents involving oil tankers in the Gulf have also supported prices.
"The ongoing geopolitical tensions between the United States and Iran continue to add a still unquantifiable level of support," said Saxo Bank commodity strategist Ole Hansen.
A U.S. general said Washington hoped to enlist allies over the next two weeks or so in a military coalition to safeguard strategic waters off Iran and Yemen, where the United States Washington blames Iran and Iran-aligned fighters for attacks.
Iran has long threatened to close the Strait of Hormuz, through which almost a fifth of the world's oil passes, if it was unable to export its oil due to U.S. sanctions.
(Additional reporting by Ahmad Ghaddar in LONDON and Aaron Sheldrick in TOKYO; Editing by Jane Merriman and Edmund Blair)