Oil prices jump 2% on supply worries after large U.S. stock drawdown


Source: ca.finance.yahoo.com ca.finance.yahoo.com

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FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing By Arathy Somasekhar (Reuters) - Oil prices gained nearly $2 in early trade on Wednesday after industry data showed a bigger-than-expected draw in U.S. crude stocks amid worries about supply disruptions from the Middle East due to a deepening Israel-Hamas conflict. Brent crude futures jumped $1.62, or 1.8%, to $91.49 a barrel at 0148, with markets also braced for Chinese GDP numbers. West Texas Intermediate crude (WTI) futures were up $1.77, or 2%, at $88.43 a barrel. U.S. crude stocks fell by about...