Oil Rises 97 Cents as Inventories Climb Less Than Forecast

Bloomberg reported that oil surged 97 cents as the U.S. Energy Department confirmed that oil stockpiles increased less than expected.

As quoted in the market news:

Brent oil for March settlement climbed 97 cents, or 0.8 percent, to end the session at $117.20 a barrel on the London- based ICE Futures Europe exchange. It was the highest settlement since July 28.

Click here to read the full Bloomberg report.