A Sinopec oil tanker approaches cargo vessel Dongtai Baoze, left, berthed at an anchorage off Zhoushan port to supply it with bunker fuel, in Zhejiang province, China. Picture: REUTERS/STRINGER
Brent futures were up 17 cents, or 0.3%, at $62.54 a barrel, having risen 0.5% in the previous session. US crude inventories fell by 541,000 barrels in the week to November 8 to 440-million, data from the American Petroleum Institute, an industry group, showed on Wednesday, compared with analysts’ expectations for an increase of 1.6-million barrels.
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