Oil rises on manufacturing data, U.S. inventories

Oil prices rose on Wednesday on a string of positive manufacturing data and a drawdown in U.S. crude inventories, both indicating an economic recovery and rise in energy demand despite surging coronavirus infections around the world.

Brent crude LCOc1 was up $1.19, or 2.9%, to $42.46 a barrel at 0900 GMT, and U.S. crude was up $1.15, or 2.9%, at $40.42 a barrel.