Oil up after U.S. crude stock draw, supply growth seen easing | Reuters

Oil up after U.S. crude stock draw, supply growth seen easing | Reuters:

Oil futures rallied about 2 percent on Wednesday as U.S. crude inventories unexpectedly fell and an official forecast of crude oil supply growth from the world’s top producer was revised lower.

A widespread power outage in Venezuela that has stalled crude exports from the OPEC-member nation, which has already seen reduced shipments from U.S. sanctions, helped to tighten the market.

Brent crude futures settled at $67.55 a barrel, up 88 cents, or 1.32 percent. U.S. crude oil futures settled at $58.26 a barrel, rising $1.39 cents, or 2.44 percent.