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Actionable news in PBR: PETROLEO BRASILEIRO S.A.-PETROBRAS ADS (REP 1 COMMON SHARE),

Petrobras (PBR) Stock Jumps as Oil Rallies, Q1 Results Due Thursday

NEW YORK (TheStreet) -- Petrobras (PBR - Get Report) shares are higher by 2.18% to $7.52 on Wednesday afternoon along with increasing oil prices after the Energy Information Administration (EIA) report earlier today showed an unexpected decline in inventories last week.

Crude stockpiles fell 3.4 million barrels last week, while analysts were anticipating a build of 714,000 barrels.

Gasoline stocks also dropped 1.2 million barrels, along with distillate fuel inventories, which were down 1.6 million barrels.

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