Oil prices edged up Wednesday on bullish data from the American Petroleum Institute and the threat of a strike by oil and gas workers in Norway. The global benchmark, Brent, was trading up 1.24% at $49.18 a barrel. Its U.S. counterpart, West Texas Intermediate, was trading up 1.21% at $48.43 a barrel. The American Petroleum Institute estimated a 3.9 million barrel draw in crude stocks late on Tuesday, a larger draw than estimated by market participants surveyed by The Wall Street Journal. The data is only a preliminary estimate, but more authoritative data will be released by the U.S. Department of Energy later Wednesday. “Attention is now being focused more on the fundamental data again, which point to a tighter oil supply,” Germany-based Commerzbank CRZBY 1.68 % said in a note. The U.S. data […]