Oil rises, supported by U.S. fuel stock draws but weighed by crude build - Reuters

Oil rises, supported by U.S. fuel stock draws but weighed by crude build - Reuters:

Oil prices rose about 1% on Thursday after draws in U.S. fuel inventories, but gains were capped by a larger-than-expected rise in crude stockpiles and a series of weak economic figures.

Global benchmark Brent crude LCOc1 rose 49 cents, or 0.8%, to settle at $59.91 a barrel. U.S. WTI crude CLc1 gained 57 cents, or 1.1%, to settle at $53.93 a barrel. 


U.S. gasoline stocks USOILG=ECI fell by 2.6 million barrels in the week to Oct. 11, while distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 3.8 million barrels, the U.S. Energy Information Administration said on Thursday.

But a soaring rise in crude inventories offset the draws. Crude stocks rose by 9.3 million barrels, far surpassing estimates for a build of 2.8 million barrels.