Oil prices rose on Thursday, lifted by signs of a tightening U.S. market, although high crude supplies from producer club OPEC weighed on market sentiment.
Benchmark Brent crude LCOc1 was up 25 cents at $52.61 a barrel by 1353 GMT. U.S. light crude CLc1 was 15 cents higher at $49.74.
Strong demand in the United States has been supporting prices. The U.S. Energy Information Administration reported record gasoline demand of 9.84 million barrels per day (bpd) for last week and a fall in commercial crude inventories of 1.5 million barrels to 481.9 million barrels
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