NEW YORK (Reuters) - U.S. oil prices roared to its highest closing price in over 13 years on Wednesday as a drop in already low gasoline inventories sharpened the threat of a supply crunch that could hurt economic growth.
U.S. light crude futures (CLc1: Quote, Profile, Research) rose 70 cents to settle at $38.18 a barrel, nearly two percent higher. In London, May Brent crude (COK4: Quote, Profile, Research) ended 85 cents, or 2.6 percent, up at $33.53.
It was the highest settlement for U.S. crude since October 1990.