WATCH THE VIDEO HERE Oil prices rose on Thursday, boosted by a strong outlook for demand in the United States after fuel inventories fell more than expected, and a weaker U.S. dollar. Brent crude futures were up 34 cents, or 0.5%, to stand at $71.12 a barrel by 0745 GMT, their highest level since March 3. U.S. West Texas Intermediate crude (WTI) gained 42 cents, or 0.6%, to $67.58. The price of OPEC basket of twelve crudes stood at $74,12 a barrel on Tuesday, compared with $73,65 the previous day, according to OPEC Secretariat calculations. U.S. government data showed a higher-than-expected drawdown last week in distillate inventories, including diesel and heating oil, which fell by 2.8 million barrels, outstripping a drop of 300,000 barrels predicted in a Reuters poll.
Oil prices rise on strong demand outlook
