US crude inventories, global economy in focus


An aerial drone view of a crude oil storage facility on April 23, 2020 in Cushing, Oklahoma.

Tom Pennington | Getty Images

Oil prices edged higher on Thursday after data showed U.S. crude inventories fell again, easing concern about a supply glut, though lingering fears over the global economic fallout from the Covid-19 pandemic capped gains.

Brent crude futures for July delivery were trading up 17 cents, or 0.5%, at $35.92 per barrel at 0024 GMT. U.S. West Texas Intermediate (WTI) crude futures for July were up 4 cents, or 0.1%, at $33.53 a barrel.

U.S. crude inventories fell by 5 million barrels last week, against expectations in a Reuters poll for a 1.2 million-barrel rise, Energy…


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