Oil Ends Up on US Crude Drawdown Hopes, Wall Street Rally

NEW YORK, May 24 (Reuters) - Oil prices rose on Tuesday as investors anticipated a weekly drawdown in U.S. crude inventories that they hoped would boost prices closer to $50 a barrel, while a rally on Wall Street also lent support. "We're gearing up on expectations that the wildfires in Canada may finally be showing up in U.S. crude inventory numbers," said Phil Flynn, analyst at the Price Futures Group in Chicago. "If they show up decisively, it may be what the market needs to test $50." - See more at: http://www.rigzone.com/news/oil_gas/a/144701/Oil_Ends_Up_on_US_Crude_Drawdown_Hopes_Wall_Street_Rally#sthash.zKJAB9Sb.dpuf