West Texas International (WTI) crude was up 67 cents, or 1.2%, at $56.45 a barrel by 12:21 p.m. CDT (1721 GMT). Brent crude was up 21 cents at $60.70 a barrel. (File pick shows oil storage tanks at Cushing, Oklahoma, US. - Reuters)
HOUSTON: U.S. oil futures rose more than 1% on Thursday, lifted by a steep drop in U.S. crude inventories, especially at the benchmark's delivery hub due to increased demand with the start-up of two new West Texas pipelines.
The approach of Hurricane Dorian toward Florida also raised fears that offshore U.S. crude producers may slow output if the storm passes into the Gulf of Mexico over the weekend, analysts said.
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