Oil price rises after draw in US stocks, eyes on OPEC+ decision (Update)

Brent crude climbed 36 cents, or 0.4%, to US$89.52 a barrel by 0123 GMT, after easing 10 cents on Tuesday. U.S. West Texas Intermediate crude was up 38 cents, or 0.4%, at $88.58 a barrel, having gained 5 cents the previous day.

TOKYO: Oil prices rose on Wednesday towards last week's seven-year highs after data showing a fall in U.S. crude stocks underlined solid demand, but investors remained cautious ahead of an OPEC+ meeting due later in the day.

Brent crude climbed 36 cents, or 0.4%, to US$89.52 a barrel by 0123 GMT, after easing 10 cents on Tuesday.