Oil little changed as U.S. crude stockdraw countered by demand fears - Reuters

Oil little changed as U.S. crude stockdraw countered by demand fears - Reuters:

Oil prices were little changed on Thursday as support from a sharp drawdown in U.S. crude inventories was countered by fears of slowing global demand growth amid doubts over resolving the U.S.-China trade feud.

Global benchmark Brent crude settled at $60.95 a barrel, rising 25 cents, while U.S. West Texas Intermediate (WTI) crude rose 4 cents to end at $56.30.

U.S. crude and product inventories fell last week, with crude drawing down for a third consecutive week despite a jump in imports, the Energy Information Administration said.

Crude stocks dropped 4.8 million barrels, nearly double analysts’ expectations, to 423 million barrels, their lowest since October 2018.