Oil rises on decline in U.S. crude stocks

By Trend

Oil prices rose on Thursday, extending gains from the previous session, as an industry report showing a fall in U.S. crude stockpiles last week added to positive comments by the U.S. Federal Reserve head on the U.S. economy, Trend reports citing Reuters.

U.S. West Texas Intermediate crude CLc1 was up 20 cents, or 0.4%, at $57.32 a barrel by 0111 GMT, after rising 0.6% on Wednesday.

Brent futures LCOc1 were up 17 cents, or 0.3% at $62.54 a barrel, having risen 0.5% in the previous session.

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