West Texas Intermediate spurts higher - U.S. crude rallied - TopicsExpress

West Texas Intermediate spurts higher - U.S. crude rallied overnight as traders momentarily shrugged off fears of oversupply in favor of data showing a steep plunge in domestic oil inventories. U.S. crude rallied by US$1.24 to finish at US$92.80 barrel, as the unexpected drawdown in weekly U.S. stocks offset earlier losses that had dragged it down to US$91.12. For most of the day, rising supply from Africa and Iraq outstripped escalating tensions in the Middle East and ... ow.ly/2O62Ug

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