Oil prices rise on demand optimism after U.S. crude stocks drawdown

Written by on November 2, 2022

SINGAPORE, Nov 2 (Reuters) - Oil prices rose more than 1% on Wednesday after industry data showed a surprise drop in U.S. crude inventories, suggesting demand is holding up despite steep interest rate hikes dampening global growth.

Brent crude futures rose $1.13, or 1.2%, to $95.78 a barrel at 0441 GMT, while U.S. West Texas Intermediate (WTI . . .



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