Oil prices extended gains on Thursday, riding higher on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories as production remains hampered in the Gulf of Mexico after two hurricanes.
The market was also supported by a return of appetite for risk assets as concerns eased over a potential default by property developer China Evergrande (3333.HK) and its possible fallout on the world's second-largest economy.
U.S. West Texas Intermediate (WTI) crude rose 17 cents, or 0.2%, to $72.40 a barrel by 0645 GMT, while Brent crude rose 18 cents, or 0.2%, to $76.37 a barrel.
Both contracts jumped 2.5% on Wednesday after data from the U.S. Energy Information Administration showed U.S. crude stocks fell by 3.5 million barrels to 414 million barrels in the week to Sept. 17 - the lowest total since October 2018 - in a bigger drawdown than analysts had expected.
Reference: Reuters
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