Oil prices rose towards $52 a barrel on Wednesday, hitting their highest level since June, supported by an industry report that U.S. inventories probably fell for a fifth straight week and OPEC’s supply cut deal. The American Petroleum Institute (API) said on Tuesday that U.S. crude inventories dropped 7.6 million barrels, which would be the fifth straight weekly decline if confirmed by U.S. Energy Information Administration (EIA) data on Wednesday. [API/S] Brent crude was trading at $51.70 a barrel, up 83 cents, at 0819 GMT. The global benchmark touched $51.72 during the session, its highest since June 10. U.S. crude was up 75 cents at $49.44. Analysts are expecting a rise in crude stocks of 2.6 million barrels. But another drop in U.S. crude stocks would reinforce the view that […]