Crude oil reversed losses after US market closed as API data showed that US inventory fell more than expected. Both benchmark contracts hovered above US$50/bbl in Asia Wednesday. Market sentiment today, as well as in the US session Tuesday, was relatively upbeat as more EU referendum polls showed that support for the "remain" camp outweighed that for the "leave" camp.
from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/inventory-decline-triggered-crude-oils-rebound-2016062233165/
Inventory Decline Triggered Rebound in Crude Oil Prices
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