MW: Crude jumps 3% on news of big drop in inventories
By Nick Godt
NEW YORK (MarketWatch) -- Crude oil futures jumped 3% to trade near $73 a barrel on Wednesday, after the Energy Information Administration reported crude inventories fell by 3.7 million barrels last week. Analysts polled by Platts expected a decline of 2 million barrels. Crude oil for January delivery was last up $2.22, or 3%, at $72.91 a barrel, after briefly rising as high as $73.13 in electronic trade.
