Oil climbs on demand outlook as market awaits fresh cues – Reuters

Oil climbs on demand outlook as market awaits fresh cues – Reuters

Oil prices rose on Wednesday after a drop in U.S. crude inventories reinforced OPEC's robust demand outlook, while the market awaited fresh updates on the Colonial Pipeline outage.

U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.44%, to $65.57 a barrel at 0646 GMT, adding to a 36 cent rise on Tuesday.

Brent crude futures climbed 31 cents, or 0.45% to $68.86 a barrel, adding to a 23 cent gain on Tuesday.