Brent close to $113/b as supplies, reserves dwindle


Oil prices gained over 2% on Wednesday as another U.S. crude stock drawdown indicated tight supplies and investors worried about possible new Western sanctions against Russia.

Brent futures rose $2.69, or 2.4%, to $112.92 a barrel by 1:22 p.m. EDT (1722 GMT). U.S. West Texas Intermediate (WTI) crude rose $2.88, or...