Oil rises as U.S. stockpiles draw down, Iran exports fall | Reuters

Oil rises as U.S. stockpiles draw down, Iran exports fall | Reuters:

Oil prices rose about 1 percent on Wednesday, supported by a drawdown in U.S. crude and gasoline stockpiles and on news of falling Iranian crude shipments as U.S. sanctions deter buyers.

Brent crude oil LCOc1 was up 57 cents at $76.52 a barrel by 11:38 a.m. EDT (1538 GMT). U.S. crude CLc1 was 77 cents higher at $69.30 a barrel.

U.S. crude inventories USOILC=ECI fell 2.6 million barrels last week, the Energy Information Administration said, exceeding the 686,000-barrel draw forecast by analysts polled by Reuters.