Crude futures strengthened midweek, driven by yet another hefty fall in weekly US crude inventories and expectations of a cut in US interest rates for the first time in over a decade.
Support also came from persistent tensions in the Persian Gulf and the closure of Libya's largest oilfield, which cut supplies.
Strong buying had been evident earlier in the week amid optimism that the US Federal Reserve this week would cut interest rates in a move that is likely to boost demand expectations.
