(Bloomberg) — Oil rose for a second day as a bigger-than-expected draw in American crude stockpiles and plunging output from OPEC producers outweighed nervousness about a coronavirus resurgence in the U.S.Futures in New York edged above $40 a barrel after rising 1.4% Wednesday as the Energy Information Administration reported U.S. inventories shrunk by 7.2 million barrels last week, the most this year. Sentiment was also aided by a survey showing OPEC output fell to the least since 1991 last month.The coronavirus continues to run rampant through the world’s largest economy, with cases surging in California, Texas and Florida, the three …read more
Source:: Yahoo Finance
