Oil rises further above $60, Jackson Hole summit in focus - Reuters

Oil rises further above $60, Jackson Hole summit in focus - Reuters:

Oil rose further above $60 a barrel on Thursday, supported by a drop in U.S. crude inventories and OPEC-led supply cuts, although worries about the global economy weighed.

U.S. crude inventories fell by 2.7 million barrels last week, more than analysts expected. Still, the U.S. Energy Information Administration also said gasoline and distillate inventories rose.

Brent crude LCOc1 rose 46 cents to $60.76 a barrel by 1017 GMT. U.S. West Texas Intermediate crude CLc1 added 40 cents to $56.08.