Oil prices rose 3 percent on Wednesday, with Brent crude futures hitting a three-week high, after U.S. government data showed a larger-than-expected draw in crude inventories and as Washington’s sanctions on Iran signaled tightening supplies. Brent crude futures LCOc1 rose $2.15, or 3 percent, to settle at $74.78 a barrel. The global benchmark reached $75.00 during the session, the highest since July 31. U.S. West Texas Intermediate (WTI) crude CLc1 futures rose $2.02 to settle at $67.86 a barrel, a 3.1 percent gain. U.S. crude inventories USOILC=ECI fell 5.8 million barrels last week, the Energy Information Administration said, exceeding the 1.5 million-barrel draw forecast by analysts polled by Reuters.[EIA/S] Refinery crude runs USOICR=ECI slipped 89,000 barrels per day from the previous week’s record high […]