Oil prices drifted higher on Wednesday, anticipating a report of low US oil stocks, while expectations of solid demand in the upcoming driving season also lent support.
Brent crude futures for August had risen 21 cents, or 0.2 per cent, to $120.79 a barrel by 0413 GMT after closing on Tuesday at the highest since May 31.
US West Texas Intermediate crude for July was at $119.75 a barrel, up 34 cents, or 0.3 per cent, after reaching its highest settlement since March 8 in the previous session.
Analysts polled by Reuters expect data for last week to show another drawdown of US crude inventories, although gasoline and distillates stocks could edge higher.
