LONDON—Oil prices rose on Wednesday after data suggested a larger-than-expected draw in U.S. crude stockpiles, but gains were capped by growing concerns over demand in China and a snow storm that is expected to hit U.S. travel.
Brent crude futures were up 93 cents, or 1.15 percent, at $80.92 a barrel by 1040 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 80 cents, or 1.05 percent, to $77.03. Both contracts had risen by more than $1 earlier in the session.
