Oil prices climb after drawdown in U.S. stocks.

Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in U.S. crude inventories and on expectations demand will rise as vaccination roll-outs widen.

Brent oil rose 60 cents, or 0.8%, to $74.20 a barrel by 0858 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 65 cents, or 0.9%, to $71.11 a barrel.

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