Reuters | Oil drops on IEA glut warning, rise in US stocks Reuters LONDON Oil fell on Wednesday as the International Energy Agency (IEA) warned that a global supply glut continued to weigh on prices and data showed an unexpected weekly gain in U.S. crude stocks. The IEA, which advises industrialized nations on ... US oil settles up 4.56 pct after 2-month lows OPEC Producer Sees Oil at $60 Until 2018 With Demand Picking Up Demand for crude oil from Europe will drop |