(Bloomberg) — Oil climbed to near a five-month high after an industry report pointed to a third straight weekly drop in American crude stockpiles.Futures in New York rose past $42 a barrel after losing 0.8% Tuesday. The American Petroleum Institute reported inventories fell by 4.01 million barrels last week, according to people familiar with the data.The improving picture in the U.S. overshadowed anxiety over the still-surging coronavirus. India’s oil product consumption was still down 12% compared to a year earlier in July, as the nation continues to grapple with the virus, while New Zealand’s largest city went back into lockdown.Oil …read more
Source:: Yahoo Finance
