Brent oil prices rise above $60, buoyed by U.S. stock drawdown - Reuters

Brent oil prices rise above $60, buoyed by U.S. stock drawdown - Reuters:

Brent crude oil futures rose above $60 a barrel on Wednesday after industry data showed a larger-than-expected drop in U.S. crude inventories, but ongoing worries about a possible global recession capped gains.

Brent crude LCOc1 had gained 33 cents, or 0.6%, to $60.36 a barrel by 0654 GMT, after settling 0.5% higher on Tuesday.

U.S. crude CLc1 was up 17 cents, or 0.3%, at $56.30 a barrel.

U.S. crude oil stocks fell by 3.5 million barrels in the week to Aug. 16, data from industry group the American Petroleum Institute (API) showed on Tuesday. Analysts polled by Reuters had expected a fall of 1.9 million barrels.