Oil prices rise on drop in U.S. crude inventories - Reuters

Oil prices rise on drop in U.S. crude inventories - Reuters:

Oil prices rose on Wednesday after industry data showing a fall in stockpiles of U.S. crude somewhat eased worries about subdued demand due to the China-U.S. trade war.

Brent crude futures LCOc1 climbed 70 cents to $60.21 a barrel by 1204 GMT. West Texas Intermediate (WTI) crude futures CLc1 gained 79 cents to $55.72 a barrel.

The two benchmarks are headed for monthly losses of around 8% and 5%, respectively, weighed down by trade barriers between the world’s two biggest oil consumers.