IEA’s Birol Says Oil Prices May Rise Further Oil rose after a two-day decline as an industry report showed US gasoline stockpiles shrunk further ahead of the summer driving season and Saudi Arabia said there’s nothing more it can do to tame the market. West Texas Intermediate futures climbed above $110 a barrel after losing around 3% over the previous two sessions. The American Petroleum Institute reported that inventories of the motor fuel fell by 4.22 million barrels last week, according to people familiar with the figures. Stockpiles are at the lowest level for this time of the year since 2013. The market has been gripped by a volatile period of trading since late February following Russia’s invasion of Ukraine and a Covid-19 resurgence across China. Saudi Arabia’s foreign minister said that the kingdom has done what it could for the oil market, adding that there was no shortfall […]