Oil prices traded higher on Wednesday after an industry report said US crude stockpiles fell last week by more than twice the amount that analysts in a Reuters poll had forecast.
But they rebounded after American Petroleum Institute data late on Tuesday showed US crude oil and petrol stocks fell last week, while distillate stocks built. Halley said he was expecting a drawdown of 4.8-million barrels when official numbers are released by the Energy Information Administration later on Wednesday.
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