Oil prices rose Wednesday, recovering from losses in earlier trading as a drop in fuel stockpiles outweighed larger-than-anticipated increase in crude inventories and relentlessly rising U.S. production. Light, sweet crude for April delivery rose 25 cents, or 0.41%, to $60.96 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, rose 25 cents, or 0.39%, to $64.89 a barrel on ICE futures Europe. U.S. crude futures initially tumbled after the U.S. Energy Information Administration reported that inventories of crude oil rose by 5 million barrels—double what analysts surveyed by The Wall Street Journal had anticipated, and significantly more than the 1.2 million-barrel build reported by industry group the American Petroleum Institute on Tuesday. But on the positive side for oil prices, consumers soaked up large amounts of fuel. Gasoline stockpiles dropped by 6.3 million barrels and diesel stockpiles fell by 4.4 million barrels—outpacing the drops analysts had […]