Crude oil futures closed higher on Wednesday amid lingering uncertainty about the U.S. and Iran reaching a deal to end their prolonged conflict. On the inventory front, the Energy Information Administration (EIA) released a report showing US crude inventories rose by 0.922 million barrels to 427.3 million barrels in the week ended September 25, versus market expectations for a 0.3 million-barrel draw.
Benchmark crude oil futures for November delivery increased by $1.04 or 1.16% to settle at $90.42 a barrel on the New York Mercantile Exchange. Brent crude for December delivery rose by $1.87 or 1.94% to settle at $98.03 a barrel on the New York Mercantile Exchange.