Oil Climbs over 2 Percent. Shrugs off API`s U.S. Crude Build

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Oil prices surged on Wednesday. shrugging off an unexpected build in U.S. crude stockpiles and rebounding from a four-day slump as Russia’s central bank expressed caution on plans to boost oil supply.

Brent LCOc1 settled up $2.11. or 2.8 percent. at $77.50 a barrel. U.S. crude CLc1 gained $1.48. or 2.2 percent. to $68.21.