Oil prices rallied overnight as dealers concentrated on low levels of crude in the US where light crude rose 25 cents to $31.30 a barrel and London Brent crude was 20 cents higher at $28.56.
The gains countered a sell-off on Wednesday after US government data showed near-record refining activity in the US boosted supplies of gasoline and distillates.
Overall crude stocks in the US are 11% lower than this time last year, mainly becasue of disruptions in Iraqi and Venezuelan shipments over the year and bad weather last winter.
