Oil Prices Rise on Wednesday

Oil prices rose in mixed trading on Wednesday, after sharp losses in the previous session, as industry data showed a surprise draw in US crude stocks.

Brent crude rose 12 cents to $46.09 a barrel after settling down $1.38, or 2.9%, in the previous session. US West Texas Intermediate (WTI) crude was up 5 cents at $44.72 a barrel after climbing as high as $45.09 in earlier trading. The benchmark ended down $1.26, or 2.7%, in the previous session. 

Data from industry group the American Petroleum Institute showed crude stocks fell 752,000 barrels in the week ended September 23 to 506.4 million barrels. 

Source : QNA