Oil edges up after sharp U.S. crude inventory drop - Reuters

Oil edges up after sharp U.S. crude inventory drop - Reuters:

Oil prices rose on Wednesday after a steep drop in U.S. crude inventories, but another record day for coronavirus cases worldwide kept gains in check. 

Brent crude futures LCOc1 settled at $43.75 a barrel, up 53 cents, or 1.2%. U.S. West Texas Intermediate crude futures CLc1 settled at $41.27 a barrel, gaining 23 cents, or 0.6%.

U.S. crude oil inventories fell by 10.6 million barrels last week to 526 million barrels, the Energy Information Administration said, the largest drawdown since December.

Net U.S. crude imports fell 1 million barrels per day to 1.9 million bpd, the EIA said.