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Oil prices hold gains after US inventory drawdown

Updated : August 29, 2019 08:01 AM IST

US crude was up by 6 cents, or 0.1 percent, at $55.84 a barrel, while Brent crude was down 7 cents, or 0.1 percent, at $60.42 a barrel by 0011 GMT after rising for two days. Oil prices rose around 1.5 percent in the previous session.
US crude oil inventories fell last week by 10 million barrels, compared with analysts' expectations for a decrease of 2.1 million barrels, as imports slowed, the Energy Information Administration said.

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