Oil futures remain higher after EIA data shows drop in crude inventories

Oil futures remained higher Wednesday after data from the Energy Information Administration showed U.S. crude inventories fell by roughly 800,000 barrels in the week ended Nov. 20. West Texas Intermediate crude for January delivery CL.1, 0.91% was up 44 cents, or 1%, at $45.35 a barrel on the New York Mercantile Exchange. Analysts surveyed by S&P Global Platts had looked for crude inventories to fall by 1.3 million barrels, but data late Tuesday from the American Petroleum Institute, an industry trade group, had shown a rise in inventories.