Oil prices extended gains on Wednesday as a larger than expected fall in US crude inventories and escalating geopolitical tensions raised investor worries about tighter supplies.
Brent futures for June delivery rose 20 cents, or 0.22 percent , to $89.12 per barrel, while US West Texas Intermediate (WTI) crude futures for May climbed 17 cents, or about 0.2 percent , to $85.32 a barrel.
Both Brent and WTI had climbed to its highest since October on the previous day.
US crude oil inventories fell by 2.3 million barrels last week, higher than the 1.5 million barrel drop forecast by analysts in a Reuters poll. US government data is due later on Wednesday.
On the geopolitical front, a Ukrainian drone struck one of Russia’s biggest refineries in an attack Russia initially said it repelled.
Russia, among the top three global oil producers and one of the largest exporters of oil products, has been contending with Ukrainian attacks on oil refineries and has also attacked Ukrainian energy infrastructure.
Elsewhere, Iran said it would take revenge against Israel for an airstrike that killed two of its generals and five military advisers at its embassy compound in Damascus, raising the risk of further escalation in the Middle East conflict.
