Oil Rises Most in Nine Weeks After Data Show Decline in U.S. Inventories

(Bloomberg) -- Crude oil rose the most in more than
nine weeks in New York after the U.S. government reported a third
straight weekly decline in oil inventories and increased refinery
operations.

A gain in oil processing by refineries helped reduce U.S.
supplies by 1.1 million barrels to 351 million barrels last week,
the Energy Department report showed. Inventories in Cushing,
Oklahoma, the main supply hub in the U.S., fell 1.38 million
barrels to 212.4 million barrels, the lowest since February 2006.


Read more at Bloomberg Commodities News