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By Henning Gloystein
U.S. West Texas Intermediate (WTI) crude futures were at $56.09 a barrel at 0101 GMT, up 13 cents, or 0.23 percent from their last settlement.
Brent crude futures
Traders said the higher prices came as U.S. crude oil inventories fell by 5.6 million barrels in the week to Dec. 1, to 448.1 million barrels
The slightly higher prices came after a much bigger sell-off in late U.S. trading.
"WTI prices cratered (on Wednesday) despite a drop in weekly crude inventories. Indeed, traders were more concerned about the steep rise in gasoline inventories," said Stephen Innes, head of trading for Asia/Pacific at futures brokerage OANDA in Singapore.
"This suggests that refiners may not need to process as much crude in the future" ANZ said on Thursday.
"The EIA report also showed that U.S. production increased again," the bank added.
U.S. crude production
(Reporting by Henning Gloystein; Editing by Joseph Radford)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)