Oil ends over 4% higher as U.S. crude supplies fall a sixth week

Oil futures settled with a gain of more than 4% after U.S. government data revealed a sixth straight weekly decline in domestic crude supplies.

August West Texas Intermediate crude CLQ6, -1.08%  ended the session at $49.88 a barrel, up $2.03, or 4.2%, on the New York Mercantile Exchange. Based on the most-active contracts, prices are trading more than 34% higher year to date.

August Brent crude LCOQ6, -1.21%  on London’s ICE Futures exchange rose $2.03, or 4.2%, to $50.61 a barrel, with prices up more than 36% for the year so far.

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