11.02.2009 - Oil rises towards $38 on surprise crude stocks drop
From Reuters: Oil climbed towards $38 a barrel on Wednesday, paring some of overnight's 5 percent losses, after the industry group American Petroleum Institute's weekly inventory data showed crude stockpiles had fallen unexpectedly. But a downward revision by the U.S. government on its oil demand forecasts and doubts over the effectiveness of the U.S. government's bank rescue plan capped oil's gains..... Full Article: Source