Oil prices rose nearly one per cent on Thursday on track for a fourth straight day of gains, but analysts remained cautious about record-high U.S. crude inventories.
Brent crude futures gained 43 cents or 0.8 per cent to 54.80 dollars a barrel.
Advertisement
U.S. West Texas Intermediate (WTI) crude futures rose 0.9 per cent or 47 cents a barrel to 51.60 dollars.
WTI touched a session high of 51.77 dollars a barrel.
Advertisement
Refinery runs are starting to increase as U.S. summer driving season approaches and gasoline inventories have been declining.
U.S. government data still shows crude inventories at record levels.
Advertisement
NAN
Advertisement