US stocks extend gains boosted by energy sector

US stocks extended gains into a second session on Wednesday as higher oil prices boosted energy equities.

The Dow Jones Industrial Average gained 145.46 points, or 0.82%, to 17,851.51. The S&P 500 rose 14.48 points, or 0.70%, to close at 2,090.54. The Nasdaq Composite climbed 33.84 points, or 0.70% to finish at 4,894.89.

Oil advance was the main driver behind the move, with WTI futures settling 1.9% up at $49.56 a barrel after data showed that US oil inventories fell more than expected last week. The US Energy Information Administration reported that crude oil inventories fell by 4.2 million barrels in the week ended May 20, against expectations of a 2.5 million barrels decline.