Oil jumps to near $50 after API reports big U.S. stockpile draw

NEW YORK (Reuters) - Oil rose about 1 percent on Tuesday on a boost from Wall Street and expectations of a drawdown in U.S. crude inventories, then prices jumped another 1 percent after settlement to nearly $50 (£34.2) a barrel after an industry group suggested the draw was larger than expected.

from Reuters: Top News http://uk.reuters.com/article/uk-global-oil-idUKKCN0YF01P?feedType=RSS&feedName=topNews