LONDON: Oil NSE 0.24 % gained for a fifth day on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in US crude inventories.
The American Petroleum Institute reported US crude inventories fell 8.5 million barrels, two market sources said, more than analysts forecast. Official Energy Information Administration figures are out at 1430 GMT.
