Oil prices fell on Wednesday after sharp gains despite a historic drop in U.S. crude stocks, as traders derisk following the downgrade of U.S. government top credit by a major ratings agency.
U.S. crude stocks fell in the week by 17 million barrels, the largest drop in U.S. crude inventories according to records dating back to 1982, the Energy Information Administration said on Wednesday. The draw was driven by increased refinery runs and strong crude exports
