Oil prices rose at the start of Asian trade on Wednesday after industry data showed drawdowns in U.S. crude and fuel stockpiles, raising supply concerns.
European Commission President Ursula von der Leyen is expected to spell out the plans on Wednesday, officials said. U.S. crude and fuel stocks fell last week, according to market sources citing American Petroleum Institute figures. Crude stocks fell by 3.5 million barrels for the week ended April 29, the sources said.
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Crude Oil Inventory by Site Bryan Mound - contains 215.3 MMB in 19 caverns Big Hill - contains 122.7 MMB in 14 caverns West Hackberry - contains 173.6 MMB in 21 caverns Bayou Choctaw - contains 55.1 MMB in 6 caverns