US light crude was fetching $62.54 per barrel, up $0.64, in midday trading.
In London, benchmark Brent crude was selling at $68.68, up $1.26, in late afternoon trading.
The Energy Information Administration in Washington said gasoline stocks in the previous week fell by 5.5 million barrels to 199.7 million barrels.
This was the ninth consecutive drop and brought inventories to more than 10% below levels in February.
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