Oil rises more than 4% as U.S. stockpiles fall

Oil prices jumped more than 4% on Wednesday, following a drawdown in U.S. crude and gasoline inventories and as Hurricane Sally forced a swath of U.S. offshore production to shut.

Brent crude LCOc1 rose $1.64, or 4.1%, to $42.17 a barrel by 12:51 p.m. EDT (1651 GMT), while U.S. crude CLc1 gained $1.85, or 4.8%, to $40.13.