Oil rises on US crude storage draw, China imports show year-on-year gain

OIL prices rose on Thursday as falling U.S. crude inventories amid rising refinery intake and a year-on-year increase in Chinese imports last month supported higher demand expectations for the world's two largest crude consuming nations.

Brent crude futures for July rose 31 cents, or 0.4%, to $83.89 a barrel by 0533 GMT. U.S. West Texas Intermediate crude for June was up 39 cents, or 0.5% to $79.38 per barrel.