Crude hits six-month high before holiday weekend

NEW YORK

In London, Brent prices rose $1.23 to $60.15 a barrel on the ICE Futures exchange.

Crude stockpiles dropped by 2.1 million barrels for the week ended May 15, according to Energy Department’s Energy Information Administration. Gasoline inventories dropped by 4.3 million barrels.

That was a bigger decline than analysts had expected, especially for gasoline.

AP