MARKET WATCH: NYMEX April oil price approaches $57/bbl on inventory draw

Light, sweet crude oil prices for April rose more than $1/bbl to approach $57/bbl after a US government weekly oil inventory reported showed a draw in oil supplies. US crude oil inventories for the week ended Feb. 22, excluding the Strategic Petroleum Reserve, decreased by 8.6 million bbl from the previous week, the US Energy Information Administration estimated in its weekly report.


Source: News