Oil futures rose Wednesday ahead of key U.S. supply data expected to show that the oil-market glut is starting to abate. Industry group American Petroleum Institute said late Tuesday that its data showed crude oil supplies in the country fell by 1.5 million barrels last week. The U.S. Energy Information Administration will release its official estimate for last week later Wednesday, and analysts surveyed by The Wall Street Journal expect the inventories rose by 1.1 million barrels. Brent crude for June delivery rose 2.1% to $68.95 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, light, sweet crude futures for delivery in June were trading at $61.90 a barrel, up 2.5% from the previous close. Besides inventory levels, market participants also will track crude oil production in the U.S. data. While it has been running at […]