Oil back above $50 after another surprise U.S. crude draw

By Ethan Lou NEW YORK (Reuters) - Oil prices recovered most of their early losses on Wednesday, with Brent returning to above $50 a barrel, after the U.S. government reported a drawdown in domestic crude stocks that extended a trend of unexpected inventory declines this autumn. The U.S. Energy Information Administration (EIA) said domestic crude stockpiles fell 553,000 barrels last week, against a 1.7 million-barrel build forecast by analysts polled by Reuters. A preliminary report from trade gr