22.02.201814:24:00UTC+00Crude Oil Jumps Above $62

Crude oil futures rallied Thursday after the government reported a drop in U.S. oil stockpiles in contrast to yesterday's industry data.

WTI light sweet oil was up 93 cents at $62.61 a barrel, supported by upbeat U.S. economic data and renewed European Central Bank dovish talk.

Pointing to robust economic growth in the first half of 2018, the Conference Board released a report on Thursday showing a bigger than expected increase by its index of leading U.S. economic indicators in the month of January.

The Conference Board said its leading economic index jumped by 1.0 percent in January after climbing by 0.6 percent in December. Economists had been expecting another 0.6 percent increase.