|Oil nudges $50 a barrel as investors bet on shrinking overhang|
Oil rose towards $50 a barrel on Wednesday for the first time in seven months, driven by expectations that shrinking supply will help erode any overhang of unwanted crude, particularly after industry data showed a sharp fall in U.S. inventories. Brent crude futures were up 58 cents at $49.19 a barrel by 0849 GMT, while U.S. crude futures rose 56 cents to $49.18 a barrel. Strikes across France that crippled output from most of the country's eight refineries have had little impact so far on crude oil prices, but rather helped lift refining margins for diesel and gasoline.
|Global stocks climb as Brexit, Grexit risks ease|
By Patrick Graham LONDON (Reuters) - Easing concerns over several major global risks helped stock markets rise robustly for a second day on Wednesday, underpinned by gains in oil and metals prices and data showing the U.S. economy can deal with a hike in interest rates. Traders say several polls showing Britain will vote strongly to stay in the European Union in a referendum in June have done more than just support sterling, up 5 percent in trade-weighted terms from lows hit in April. A new debt deal for Greece also looked to have headed off the risk of another round of uncertainty over its finances and even its future in the euro zone after a funding crisis a year ago, pushing European stock markets higher across the board.
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