Oil Rises for Third Day as Inventories Drop Most in a Decade

Oil rose for a third day as U.S. inventories declined the most in a decade.

Crude gained 1.5 percent after the Energy Department reported supplies fell 10.6 million barrels to 323.6 million. It was the largest decline since Feb. 16, 2001, and almost five times the 2.13 million-barrel drop that was the median of 12 analyst estimates in a Bloomberg News survey. Oil also advanced as imports slipped to a three-year low.