Oil compensated for the losses it incurred in early trading, as the impact of the sharp drop in crude stocks outnumbered concern over the increase in cases of coronavirus infection in the United States and the renewal of general isolation measures in California, which could disrupt fuel demand recovery.
West Texas Intermediate crude futures increased 25 cents, or 0.6%, to $ 40.07 a barrel by 6:32 GMT, adding the increase to a rise of 1.4% Yesterday, Wednesday.
Brent Brent crude futures rose 25 cents, or 0.6%, to $ 42.28 a barrel, after a rise of 1.8% in the previous session.
Data from the US Energy Information Administration showed that crude oil stocks in the United States fell 7.2 million barrels from a record high last week, which far exceeds analysts' expectations with Refining companies boosting production and declining imports.
On the other hand, the yellow metal retreated today near the peak of 8 years that it reached in the previous session with the revival of strong data on manufacturing in the United States and promising results for the vaccinations of the Coronavirus vaccine. (Coved 19) to hopes for a rapid economic recovery, reducing demand for safe havens.
Gold in spot trading fell 0.2% to $ 1766.79 an ounce by 5:02 GMT, after hitting the highest level since October 2012 on Wednesday at $ 1788.96.
Gold in US futures transactions fell 0.2% to $ 1776.80.
