Oil Up Over Huge Draw in US Crude Oil Supplies, Fuel Demand Hopes By Investing.com – Investing.com

Oil Up Over Huge Draw in US Crude Oil Supplies, Fuel Demand Hopes By Investing.com – Investing.com

By Gina Lee

Investing.com – Oil was up Wednesday morning in Asia over a record fall in U.S. crude oil supplies and growing expectations that re-opening drives in the U.S. and Europe will boost fuel demand. However, investors are also keeping an eye on ever-surging numbers of COVID-19 cases in parts of Asia.

rose 2.68% to $69.37 by 12:24M ET (4:24 AM GMT), closing in on the $70 mark. jumped 2.64% to $66.19.