Oil edges up on lower-than-expected rise in U.S. crude stockpiles

News Snapshot:

Oil prices rose for a third day on Wednesday after U.S. crude inventories grew less than expected and a cut in the forecast for output growth in the U.S., the world’s biggest producer, eased concerns about potential oversupply. Brent crude futures were up 26 cents to $78.85 a barrel as of 0914 GMT, while U.S. West Texas Intermediate crude climbed 27 cents to $73.58. American Petroleum Institute figures showed U.S. crude stocks rose 670,000 barrels in the week to Feb. 2, well below a 1.9 million barrel build forecast from analysts polled by Reuters. U.S. government weekly data on oil...