WASHINGTON (dpa-AFX) - Crude oil futures rose Wednesday after government data showed U.S. oil inventories continued to dwindle last week.
The Energy Information Administration said crude inventories fell by 6.5 million barrels (bbl) in the week to Dec. 15, compared with analyst expectations for a decrease of 3.8 million barrels (bbl).
U.S. weekly production rose again, rising to 9.79 million bbl/d.
Extending recent gains, WTI light sweet crude oil added 53 cents, or 0.9%, higher at $58.09 a barrel.
Traders also considered upbeat U.S. housing data.
Existing-home sales surged for the third straight month in November and reached their strongest pace in almost 11 years, according to the National Association of Realtors. All major regions except for the West saw a significant hike in sales activity last month.
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