U.S. oil rises after surprise inventory drop; stocks up



Crude oil prices rose to a 15-month high on Wednesday after a surprise U.S. inventory drawdown, boosting energy shares.
WTI crude CLc1 hit its highest since July 2015 after the Energy Information Administration said U.S. stockpiles fell by 5.2 million barrels in the week ended Friday, dashing analysts' expectations for a build.
Stocks in the financial sector were boosted by Morgan Stanley's (MS.N) better-than-expected quarterly profit, which rounds out a string of solid results from the largest U.S. banks.
"We’re up because the (earnings) numbers are so great, the forward guidance is... read more

 
19 October 2016 in World News, Views: 41
Source: Reuters
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