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U.S. benchmark crude edged lower after the EIA reported a 3.2 million-barrel withdrawal in commercial crude oil stocks last week. Gasoline inventories rose 382,000 barrels and distillate stocks fell 42,000 barrels.
Bernstein cut its target price on AstraZeneca to 198 pounds from 200 pounds and kept a positive view on the drugmaker’s pipeline. Shares were up 1% at 120.80 pounds.
Giovanni Staunovo at UBS says Europe’s planned emergency release of strategic oil stockpiles may not translate into an immediate supply boost.