oil futures finished higher on wednesday after the energy information administration reported that us crude supplies fell by nearly 10 million barrels for the week ended june 23 “there are relatively few positive drivers for oil at the current time” including the 96 millionbarrel weekly draw in us crude supplies reported by the eia said michael hewson chief market analyst at cmc markets uk however the prospect of higher interest rates going forward “appears to be the foremost concern for now” he said as higher rates could lead to a recession august west texas intermediate crude clq23 gained 186 or nearly 28 to settle at 6956 a barrel on the new york mercantile exchange