| An unexpected dip in U.S. crude oil inventories helped fuel a surge in energy prices and commodity-related exchange traded funds Wednesday. On Wednesday, the United States Oil Fund, which tracks West Texas Intermediate oil, was up 2.7% and the United States Brent Oil Fund, which tracks Brent crude oil futures, was 1.4% higher. USO has declined 22.2% and BNO has decreased 17.5% year-to-date.
Oil prices were rallying Wednesday after the U.S. Energy Information Administration revealed crude inventories fell by more-than-expected 4.2 million barrels last week, or over twenty times expectations for a drawdown of 184,000 barrels, Reuters reports...............................................Full Article: Source
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