Oil rises as US crude stocks fall

Singapore: Oil prices on Thursday inched higher, extending gains from the previous day as a larger-than-expected draw in US crude stocks signalled firm demand, while investors remained cautious about the geopolitical developments in the Middle East.

Brent crude futures rose 12 cents, or 0.2 %, to $ 67.80 a barrel.

US West Texas Intermediate (WTI) crude gained 20 cents, or 0.3 %, to $ 65.12 a barrel.

Both benchmarks climbed nearly 1% on Wednesday, recovering from early-week losses after data showed resilient US demand.