FOX LIVE NEWS UPDATE

UPDATE 2-Oil rises for 2nd day as U.S. crude inventories fall

July 25 (Reuters) - Oil prices edged higher for a second day on Wednesday after data showed U.S. crude inventories fell more than expected last week, easing worries about oversupply that have dragged on markets in recent sessions.

Brent crude LCOc1 was up 57 cents, or 0.8 percent, at $74.01 a barrel by 0623 GMT. The global benchmark settled 38 cents higher on Tuesday.

U.S. West Texas Intermediate CLc1 rose 27 cents, or 0.4 percent, to $68.79, having risen nearly 1 percent in the previous session.

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