Oil rises towards $46 on U.S. inventory drop

On Wednesday, Oil rose towards $46 a barrel, gaining for a third day, supported by a report that U.S. crude inventories fell and as surveys showing stronger manufacturing raised hopes of an economic recovery from the coronavirus pandemic.

Brent crude LCOc1, the global benchmark, was up 8 cents, or 0.2%, at $45.66 a barrel at 1328 GMT, climbing for a third day. U.S. West Texas Intermediate CLc1 rose 9 cents, or 0.2%, to $42.85.