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Oil rises more than 1% on smaller-than-expected rise in crude stocks

Oil prices rose more than 1% on Thursday, recouping losses from the previous day on a smaller-than-expected rise in crude oil inventories in the United States, although the gains were capped by uncertainties over cuts by major oil producers.
Brent crude (LCOc1) rose by 78 cents, or 1.5%, to $51.91 per barrel by 0202 GMT, while U.S. West Texas Intermediate (WTI) (CLc1) was up by 69 cents, or 1.5%, at $47.47 per barrel.

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