Oil Jumps Above $110 A Barrel On Fed Stimulus

Oil prices rose distinctly on Wednesday, with Brent crude rising above $110 a barrel, boosted by U.S. Federal Reserve plans for more monetary stimulus and a Texas refinery fire that lifted refined products futures.

Highlights from market news:

– Brent crude futures rose $2.27 to $110.28 a barrel, having swung from $108.14 to $110.50.

– U.S. light, sweet crude was up $1.56 at $87.35 a barrel, having reached $87.68

– Crude oil stockpiles rose 843,000 barrels in the week to Dec. 7, the U.S. Energy Information Administration said in a report on Wednesday

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