TOKYO— Oil prices rose in early Asian trading on Wednesday, with US crude joining Brent above $50 a barrel after data from the American Petroleum Institute (API) showed a larger than expected draw on stocks.US crude futures’ August contract, the new front month from Wednesday, had climbed nine cents to $49.94 a barrel by 2.23am GMT. Earlier it rose to as high as $50.54, marking the first time it has risen above $50 since June 10.Brent crude futures were up four cents at $50.66 a barrel, after settling down three cents at $50.62 on Tuesday.US crude inventories fell by 5.2-million barrels for the week ended June 17, the API said. The trade group’s figures were triple the draw of 1.7-million barrels forecast by analysts in a Reuters poll.The US government’s Energy Information Administration will issue official stockpile data on Wednesday.Markets remain jumpy over the possibility of the UK voting to leave the European Union (EU) on Thursday in a referendum, with polls showing little dif...
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