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Aug. 18, 2022, 2:53 p.m. EDT

U.S. oil futures rally to their highest finish in nearly a week

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By Myra P. Saefong

U.S. oil futures jumped on Thursday, as recent U.S. government data showing weekly declines in domestic crude and gasoline supplies helped to ease worries about a recession, pulling West Texas Intermediate crude prices to their highest finish in almost a week. September WTI crude rose $2.39, or 2.7%, to settle at $90.50 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since Aug. 12, FactSet data show.

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