Crude on course for positive week on U.S. draw

That said, both benchmark oil contracts are on course for a second consecutive positive week following a larger-than-expected fall in U.S. oil stocks, suggesting resilient demand by the largest consumer of crude in the world.

Official data from the Energy Information Administration, released on Thursday, showed that U.S. inventories shrank by 1.5 million barrels, more than expected in the week to June 30, with a bigger-than-expected drop in gasoline inventories indicating improved fuel demand amid the travel-heavy summer season.