Oil Gains as Libyan Supply Woes Counter Modest US Stock Draw

OIL PRICE - LONDON. Oil prices edged higher on Thursday, after two losing sessions, as concerns over Libyan supplies helped offset a smaller than expected draw in U.S. crude inventories, which tempered demand expectations.

Brent crude futures were up 51 cents, or 0.7%, to $79.16 a barrel at 12.59 GMT, while U.S. West Texas Intermediate crude futures were up 81 cents, or 0.8%, at $75.13.