NEW YORK (Reuters) -Oil settled near $75 a barrel on Wednesday after data showed U.S. crude inventories fell more sharply than analysts had forecast, bringing the market’s focus back to tight supplies rather than rising COVID-19 infections.
Crude inventories fell by 4.1 million barrels in the week to July 23, the U.S. Energy Information Administration said. Gasoline and distillate fuel stocks also dropped. [EIA/S]
