Oil prices rose Wednesday after the U.S. government reported drops in crude and gasoline inventories last week.
After touching a low in Asian trading of $55.72, light sweet crude for January delivery rebounded, trading 35 cents above Tuesday’s close at $56.85 a barrel in late morning trading on the New York Mercantile Exchange. In London, January Brent crude futures on the ICE Futures exchange rose 36 cents to $54.68 a barrel.
