Oil prices climb after large drop in U.S. inventories

NEW YORK, Aug. 5 (Xinhua) -- Oil prices gained on Wednesday after data showed a hefty drop in U.S. crude stockpiles.

The West Texas Intermediate for September delivery rose 49 cents to settle at 42.19 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery climbed 74 cents to close at 45.17 dollars a barrel on the London ICE Futures Exchange.