Oil prices rise after US crude stocks draw(Update)

Brent crude futures climbed 27 cents, or 0.5%, to $60.57 a barrel by 0051 GMT on Thursday. West Texas Intermediate (WTI) crude futures rose 35 cents, or 0.6%, to $56.03 per barrel.(File pic shows oil storage at Cushing Oklahoma. - Reuters)

SINGAPORE: Oil prices rose on Thursday following a drawdown in U.S. crude inventories, but gains in fuel inventories and persistent concerns over the global economy and future demand outlook capped gains.

Brent crude futures climbed 27 cents, or 0.5%, to $60.57 a barrel by 0051 GMT on Thursday.