Oil climbs 1% after U.S. crude stocks signal tighter supply

Oil prices rose at the start of Asian trade on Wednesday after industry data showed drawdowns in U.S. crude and fuel stockpiles, raising supply concerns and offsetting worries about slowing demand from top importer China.

Brent crude futures rose 89 cents, or 0.9%, to $105.86 a barrel by 0223 GMT. West Texas Intermediate crude futures rose 97 cents, or 1%, to $103.38 a barrel.