Brent crude rose towards $57 a barrel on Wednesday, paring some of the previous session’s sharp losses, after data showed U.S. crude stocks fell for the first time in two months. The benchmark closed nearly 4 percent down in the previous session on a rallying U.S. dollar and before an industry group said U.S. crude inventories fell by 404,000 barrels last week. Analysts had expected a 4.4 million barrel build in stocks. Brent for April delivery LCOc1 rose 21 cents to $56.60 a barrel by 0340 ET after dropping $2.14, or 3.66 percent, in the previous session. West Texas Intermediate for April delivery CLc1 climbed 51 cents to $48.80 a barrel after falling $1.71, or 3.42 percent, on Tuesday. “The sell-off was overdone,” said Jonathan Barratt, chief investment officer at Sydney’s Ayer’s Alliance. “I think it was more of a knee-jerk reaction because of the substantial […]