Oil price rises, supported by US fuel stock draws but weighed by crude build

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NEW YORK: Oil prices rose about 1% on Thursday after draws in U.S. fuel inventories, but gains were capped by a larger-than-expected rise in crude stockpiles and a series of weak economic figures.

Global benchmark Brent crude rose 49 cents, or 0.8%, to settle at $59.91 a barrel. U.S. WTI crude gained 57 cents, or 1.1%, to settle at $53.93 a barrel.