Investing.com -- Crude oil stockpiles fell far more than expected last week, according to oil industry data.
Crude inventory dropped 5.1 million barrels, against expectations for a draw of 900,000 barrels, according to the American Petroleum Institute. It's the second big draw in a row. During the week before, crude inventory fell 8 million barrels. Weekly government data will be released later this week.
Analysts watch inventory levels to measure demand for oil. The price of Crude Oil WTI Futures, the U.S. crude benchmark, rose 3.65%, to $41.77. Brent Oil Futures, the international benchmark, rose 3.8%, to just over $44.