Oil surges on crude draw, lifting Wall Street

Oil surges on crude draw, lifting Wall Street
 

Oil prices surged on Wednesday after a report showed a drop in U.S. crude stockpiles, fuelling energy shares and helping lift Wall Street after two down sessions.
In Europe, bond yields jumped while pan-European STOXX index slumped 0.6 percent, with markets rattled by the prospect of the region's central bank eventually winding down its bond-buying stimulus.
Oil prices rose to their highest since June after the U.S. government reported another surprise weekly drawdown in crude inventories.
The U.S. Energy Information Administration (EIA) said crude stockpiles fell nearly 3 million barrels... read more

 
5 October 2016 in World News, Views: 32
Source: Reuters
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