Oil rises 2% as Saudi Arabia aims at $100/bbl, US stockpiles fall


Oil extended gains on Wednesday, rising more than $1 on a reported decline in US crude inventories and after sources signalled top exporter Saudi Arabia wants to see the crude price closer to $100 a barrel. Top oil exporter Saudi Arabia would be happy for crude to rise to $80 or even $100, three industry sources said, a sign Riyadh will seek no changes to a supply-cutting deal even though the agreement's original target is within sight.

Brent crude futures were up $1.17 at $72.75 by 1418 GMT, while US WTI crude futures gained.....

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