Brent crude topped $52.00 U.S. a barrel for the first time since June on Wednesday after government data showed a fifth straight weekly decline in U.S. crude inventories.
Figures released Wednesday by the U.S. Energy Information Administration revealed that U.S. crude inventories dropped three million barrels to a total of 499.7 million barrels in the week through Sept. 30, less than a 7.6-million-barrel decline indicated by the American Petroleum Institute.
Analysts had expected a rise in crude stocks of 2.6 million barrels.
The drawdown came even as refineries cut output and as imports of crude oil fell by 125,000 barrels a day.
U.S. crude was up $1.23, or 2.5% late Wednesday morning, to $49.92, near its highest level since June 29.
Gasoline stocks rose by 222,000 barrels, compared with analyst expectations for a 702,000-barrel gain.
Distillate stockpiles, which include diesel and heating oil, fell by 2.4 million barrels, versus expectations for a 700,000-barrel drop.
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