Mubasher: US crude oil inventories dropped in an unexpected manner as shown by official data released on Thursday.
US inventories declined by 14.51 million barrel in the week ended 2 September, after rising by 2.27 million barrels in the week before, according to the American Energy Information Administration (EIA).
On Wednesday, the American Petroleum Institute (API) reported a 12 million barrels drop in US crude inventories, exceeding the expectations of a 225,000 increase.
Brent crude oil, November-delivery, gained 53 cents or 1.1% to settle at $48.51, while the US crude oil levelled up 66 cents or 1.41% to $46.16 a barrel.
