Oil Rises in Biggest Two-Day Rally in Seven Weeks on U.S. Supply

Oil rose, in the biggest two-day rally in seven weeks in New York, after the U.S. government said supplies dropped almost three times as much as expected.

Crude rose 2 percent after the Energy Department said inventories fell for a fourth week, the longest stretch of drops this year, as imports decreased. Oil has gained 4.1 percent since June 23, when it dropped 4.6 percent after the International Energy Agency announced the release of 60 million barrels from strategic reserves, half from the U.S.