Oil up as US inventories fall to lowest since Oct 2018 but Iran talks weigh
LONDON (Reuters) -Oil prices rose on Thursday after rallying on an unexpected drop in U.S. crude inventories in the previous session, as investors awaited the outcome of U.S.-Iran nuclear talks that could add crude supplies quickly to global markets.
Brent crude futures rose 65 cents, or 0.7%, to $92.20 a barrel at 1140 GMT, while U.S. West Texas Intermediate crude was at $90.64 a barrel, up 98 cents, or 1.1%.
Robust demand recovery from the coronavirus pandemic has kept global oil supplies snug, with inventories at key fuel hubs globally hovering at multi-year lows.
