Evaporative Ponds 2

Evaporative Ponds

Oil closes at $46.23, a 6-month high, after first US crude draw in six weeks

Oil prices jumped more than 3 percent on Wednesday after the U.S. government reported crude inventories fell unexpectedly for the first time since March, adding to concerns over supply disruptions in Canada and Nigeria.

The U.S. Energy Information Administration (EIA) said crude inventories fell 3.4 million barrels last week, compared with analysts’ expectations for an increase of 714,000 barrels and the American Petroleum Institute’s (API) build of 3.5 million barrels in preliminary data issued on Tuesday.

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