Oil prices inched higher on Thursday as data showing a draw in U.S. crude stocks boosted optimism about demand.
Reports showing improving business confidence in Germany and France also fueled hopes of a fast economic recovery.
Benchmark Brent crude futures rose 19 cents, or 0.3 percent, to $75.38 a barrel, after rising half a percent on Wednesday.
U.S. West Texas Intermediate (WTI) crude futures were up 9 cents, or 0.1 percent, at $73.17 per barrel, after gaining 0.3 percent in the previous session.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.