Supply report: In its weekly inventory report, the Energy Information Administration said crude stocks dropped by 5.9 million barrels in the week ended Sept. 5. Analysts were looking for a decrease of 3.9 million barrels according to a consensus estimate by Platts, a global energy information provider.

Gasoline supplies fell by 6.5 million barrels and were below the lower boundary of the average range. Analysts were looking for a drop in gasoline stockpiles by 4.7 million barrels last week.