Crude Ticks Up After Data

Crude futures inched up slightly Thursday after domestic oil supplies plunged by more than three times the amount that analysts were expecting.

Light, sweet crude for February delivery closed up 19 cents at $60.53 a barrel. Trading was light again since many traders are either on vacation or not willing to make large bets on energy prices before the end of the year.

The U.S. Energy Department reported that crude stockpiles plummeted by 8.1 million barrels last week, a much sharper drop than the 2.5-million-barrel decline that was anticipated. ...