Investing.com - U.S. oil futures rose toward five-month highs on Friday, despite data on Wednesday showing that U.S. stockpiles rose last week as hopes for a decline in global supplies persisted.
U.S. crude futures for June delivery were last at $43.33 a barrel, up 0.30% and close to Thursday’s five-month peak of $44.48.
On the ICE Futures Exchange in London, the June Brent contract gained 0.20% to $44.62 a barrel, not far from Thursday’s five-month high of $46.18.
Investors shrugged off the Energy Information Administration’s Wednesday report saying that U.S. inventories rose by 2.080 million in the week ending April 15.
Crude prices were boosted on Thursday, after the International Energy Agency said 2016 would see the biggest fall in non-OPEC production in a generation.