Oil Gains Nearly 2% on US Inventory Draw, Fear of Supply Disruptions

Oil prices surged nearly 2% on Wednesday, buoyed by a drop in U.S. crude oil stockpiles and another round of Ukrainian attacks on Russian oil refineries, countering weakening prices earlier this week as demand worries sent traders to the exit.  At 11.44 a.m. ET on Wednesday, Brent crude was trading at $83.40, up 1.81%, while West Texas Intermediate (WTI) was trading at $79.05, up 1.92% on the day.  Despite the jump in prices Wednesday afternoon, Brent crude has not managed to break out of its range, with Reuters noting that…