Oil prices climbed on Wednesday as investors weighed a recovery in U.S. refinery activity as industry data showed U.S. crude stockpiles unexpectedly fell last week against concerns of rocky demand in Europe.
Brent crude futures rose 35 cents, or 0.5%, to $68.74 a barrel by 0641 GMT, after initially falling as much as 27 cents.
U.S. West Texas Intermediate (WTI) crude futures rose 43 cents, or 0.7%, to $65.21 after falling as much as 18 cents in early trade.
The price gains halted three straight sessions of declines for both benchmarks.
U.S. crude inventories fell by 1 million barrels in the week to March 12, according to trading sources citing data from the American Petroleum Institute. Analysts in a Reuters poll had expected a build of 3 million barrels.
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