Oil erases losses amid falling US stockpiles

Source: Marketwatch
© ScanPix/AP
Crude futures recovered from early losses after weak Chinese manufacturing data on Wednesday, following the decrease in the US oil reserves. Futures for WTI rose 0.93% to trade at $46.79 per barrel, while Brent futures were traded 0.55% higher at $49.36 per barrel by 07:28 AM GMT. Meanwhile, crude stockpiles in the US fell by 3.7 million barrels in the week to September 18, easing fears over global supply glut.  
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