Oil prices climb as US stock drawdown eases supply glut fears

Oil prices advanced on Thursday as a drawdown of US crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains. Brent crude futures for July delivery LCoc1 were trading up 33 cents, or 0.9%, at $36.08 per barrel at 0344 GMT, rising for a second day. US West Texas Intermediate (WTI) crude futures for July CLc1 were up 20 cents, or...