Oil jumps over $2 on Wednesday

Oil prices rose over $2 on Wednesday after industry data showed a larger-than-expected drawdown in U.S. crude inventories and on expectations demand will rise as vaccination roll-outs widen.

Brent oil rose $2.14, or 3%, to $75.75 a barrel, while U.S. West Texas Intermediate (WTI) crude climbed $2.28, or 3.2%, to $72.74 a barrel.

Brent hit its highest levels since late July and WTI since early August.

Oil prices jump over $2 after drawdown in U.S. stocks (cnbc.com)