Crude-oil futures rose Wednesday after an industry group reported U.S. crude inventories dropped last week. Inventories fell by 3.1 million barrels in the week ended May 8, the American Petroleum Institute reported late Tuesday after crude's floor trading closed. Analysts had expected an increase. Crude for June delivery rose 26 cents, or 0.4%, to $59.11 a barrel in early North American trading. The Energy Department's Energy Information Administration will report its more closely watched petroleum data late in the morning. The EIA and the API use different criteria for gauging inventory levels.
