Oil Ends Session Up; Misses $50-target Amid Profit-taking

NEW YORK, May 25 (Reuters) - Oil prices rose about 2 percent on Wednesday after the U.S. government reported a larger-than-expected drop in crude inventories, but profit-taking after the data kept prices below the $50 a barrel level that oil bulls had been hoping for. The U.S. Energy Information Administration said crude inventories fell 4.2 million barrels in the week to May 20. While the decline was steeper than the 2.5 million barrels forecast by analysts in a Reuters poll, it was not as much as the 5.1 million expected by trade group American Petroleum Institute. - See more at: http://www.rigzone.com/news/oil_gas/a/144735/Oil_Ends_Session_Up_Misses_50target_Amid_Profittaking#sthash.2ebbT9uj.dpuf