Oil rises after drop in U.S. crude stocks suggests demand pickup

By Administrator_India Capital Sands   Oil prices rose more than 1% on Wednesday after data showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world. Brent crude rose 48 cents, or 1.2%, to $41.75 a barrel after declining more than 1% on Tuesday. U.S. crude was up 54 cents, or 1.4%, at $39.81 a barrel, having dropped by 1.1% in the previous session. U.S. crude and gasoline stocks declined more than expected last week, while distillate…

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