Oil ends firmer after US crude stock draw

Brent crude oil futures settled 42 cents, or 0.5%, higher at US$83.58 a barrel. US West Texas Intermediate crude futures rose 61 cents, or 0.8%, to US$78.99 a barrel.

NEW YORK: Oil prices edged higher on Wednesday after data showed US crude stockpiles fell last week as refiners slowly ramped up output ahead of the summer driving season, while a stronger dollar capped gains.

Brent crude oil futures settled 42 cents, or 0.5%, higher at US$83.58 a barrel. US West Texas Intermediate crude futures rose 61 cents, or 0.8%, to US$78.99 a barrel.