Oil rises over 1% on US crude stockpile draw

Inventories dropped by 7.2 million barrels last week after hitting all-time highs for three consecutive weeks, according to US Energy Information Administration data

Oil price: Brent crude rose 76 cents, or 1.8%, to settle at $42.03 a barrel
Oil price: Brent crude rose 76 cents, or 1.8%, to settle at $42.03 a barrelPhoto: REUTERS/SCANPIX
Published 1 July 2020, 21:29Updated 1 July 2020, 21:40