Oil markets rose on Friday, recovering some ground after a smaller-than-expected draw in U.S. crude inventories triggered a selloff the previous session, sending prices to two-month lows . According to the Energy Information Administration, U.S. crude inventories for the week ended July 1 fell by 2.22 million barrels, smaller than a 6.7-million barrel draw tipped by industry organization American Petroleum Group. Brent crude, the global oil benchmark, rose 0.6% to $45.41 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.7% at $45.44 a barrel. “We expect total U.S. crude stock draws of around 9 million barrels across July, although there is potentially some downside risk to this figure given that the recent collapse in global margins has begun to bite in the U.S. too,” said Energy Aspects, a London-based consultancy. The pace of crude inventory decline is […]