New York's main contract, light sweet crude for August delivery advanced 69 cents to $98.19 a barrel. Brent North Sea crude for September delivery added 99 cents to $118.05.
US crude oil inventories tumbled 3.7 million barrels in the week to July 15, far more than market expectations for a drop of only 1.4 million barrels, according to analysts polled by Dow Jones Newswires.
Official data showed gasoline (petrol) reserves rose 800,000 last week, confounding forecasts for a drop of 200,000. Distillates, including diesel and heating fuel, soared 3.4 million barrels, against expectations for a gain of 1.2 million.
Prices also advanced amid tentative signs of progress over a second Greek bailout package, easing investor concerns that the eurozone debt crisis could undercut economic growth. For the latest updates PRESS CTR + D or visit Stock Market news Today
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