Oil prices up on surprise decline of US inventories; demand concerns linger

Oil prices crept up on Thursday, supported by a surprise decline of US crude inventories, but gains were capped by worries that a potential second wave of the coronavirus pandemic might trigger fresh lockdowns and slam fuel demand once again. Brent crude futures rose 6 cents, or 0.2%, to $29.25 per barrel at 0045 GMT.

US West Texas Intermediate (WTI) crude futures were up 8 cents, or 0.3%, to $25.37 a barrel. Crude stocks in the United States had billowed since mid-January on falling fuel demand around the world as a result of.

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