SINGAPORE: Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer, and on expectations that demand will recover as vaccine roll-outs widen.
Brent crude oil rose 39 cents, or 0.5%, to $73.99 a barrel by 0133 GMT, while US West Texas Intermediate (WTI) crude climbed 44 cents, or 0.5%, to $70.90 a barrel.
