Oil prices edged higher on Wednesday as markets worried about supply tightness in the U.S., the world's biggest oil consumer, after data showed a larger-than-expected draw in its crude and gasoline inventories.
Brent crude futures rose 32 cents, or 0.4%, to $72.58 a barrel at 0002 GMT, while U.S. West Texas Intermediate (WTI) futures gained 23 cents, or 0.3%, to $67.94 a barrel.
Both contracts had fallen about 2.5% in the previous session on signals that central banks may not be done with interest rate hikes.
Crude stocks fell by about 2.4 million barrels in the week ended June 23, according to the market sources, citing data from industry group American Petroleum Institute. Analysts had expected a draw of 1.76 million barrels.
Gasoline inventories fell by about 2.9 million barrels, compared with estimates for a draw of 126,000.
That comes after a clash between Moscow and Russian mercenary group Wagner led to concern about possible oil supply disruptions and as markets await Saudi Arabia's pledged oil output cut from July.
Source : Reuters
