Oil Futures Settle At a More Than 6-month High

Oil futures climbed on Wednesday, as a drop in U.S. crude inventories and declines in domestic production lifted prices to their highest settlement since early November. The Energy Information Administration reported that crude stockpiles fell by 3.4 million barrels last week and total production edged down for a ninth week in a row. June WTI crude rose $1.57, or 3.5%, to settle at $46.23 a barrel on the New York Mercantile Exchange.