Benchmark West Texas Intermediate crude for September delivery gained 73 cents to US$103.12 a barrel on the New York Mercantile Exchange. Brent crude for September delivery, a benchmark for international oils, rose 70 cents to US$108.03 on the ICE Futures exchange in London.
The Energy Department reported that U.S. oil supplies fell by four million barrels last week, a sharper decline than the 2.6 million barrels that had been expected by analysts surveyed by Platts, the energy information arm of McGraw-Hill Financial.
On the geopolitical front, U.S. Secretary of State John Kerry arrived in Tel Aviv, seeking to renew a push for a ceasefire after an earlier proposal by Egypt was rejected. Israeli troops battled Hamas militants near a southern Gaza Strip town even as Kerry reported some progress in his efforts.
In other Nymex trading, wholesale gasoline fell two cents to US$2.86 a U.S. gallon (3.79 litres), heating oil rose two cents to US$2.875 a gallon and natural gas fell one cent to US$3.76 per 1,000 cubic feet.
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