Oil settles up over 1% on large draw from US crude stocks

NEW YORK :Oil prices settled more than 1 per cent higher on Friday and recorded a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from U.S. crude inventories last week.Brent crude futures rose 91 cents, or 1.2 per cent, to settle at $74.17 per barrel. U.S. West T