Oil prices rallied on Wednesday after U.S. government data showed a draw in fuel inventories. Brent crude for May delivery gained 1.6% to trade at $71.98 per barrel at 12.30 pm ET while the comparable WTI contract climbed 1.8% to change hands at for U.S. government data showed that crude stocks rose by 1.7 million barrels last week to 437 million barrels, significantly higher than the Wall Street consensus of a 512,000-barrel build. However, distillate inventories, including diesel and heating oil, fell by 2.8 million barrels to 114.8 million barrels, exceeding expectations for a 300,000-barrel drop.
