West TX Oil Steady Around $54.50

U.S. crude futures inched up on Thursday to hold above $56 a barrel after two days of losses, as renewed fighting in Yemen countered worries over rising U.S. inventories due to ample supplies and robust shale production.  NYMEX crude for June delivery was up 15 cents at $56.31 a barrel by 2349 GMT.

It settled down 45 cents on Wednesday after the Energy Information Administration data showed that U.S. crude stockpiles rose by 5.3 million barrels last week, higher than the 2.9 million-barrel build expected by analysts in a Reuters survey.

London Brent crude for June delivery had not yet traded. It settled up 65 cents at $62.73 on Wednesday after warplanes from a Saudi-led coalition bombed Yemen a day after Riyadh said it was ending air strikes against Iranian-allied Houthi rebels there.


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