WTI rises on US-Iran Talks, US Stockpiles data

After fluctuating in a choppy trading session on Wednesday, West Texas Intermediate rose 1.2% to settle near $95 per barrel.

The Energy Information Administration data showed that US crude stockpiles fell amid record petroleum exports. Meanwhile, the US sent its response to the EU’s latest proposal to rescue the 2015 nuclear accord.

National Security Council spokesman John Kirby said that while a deal is closer than ever before, “Gaps remain. We’re not there yet.”

Oil also rose after a government report showed the US is exporting a record number of crude and refined products as the market waits to learn whether nuclear negotiations will clear a path for Iran to sell more oil.