U.S. crude settled at the highest level since Dec. 11 after government data showed the first crude stock draw in five months at the U.S. Cushing, Oklahoma hub suggested an oil glut may be starting to ease.
U.S. crude settled up $1.52 at $58.58, having earlier touched $59.33, its highest level since Dec. 12. The benchmark West Texas Intermediate has risen about 40 percent from its March 18 low of $42.03.
Brent crude oil was trading 1.13 higher at $65.76 a barrel by 2:36 p.m. EDT (1836 GMT), after rising to $66.72, the highest level since Dec. 9.
Oil prices have risen some 20 percent in April for their strongest recovery since the selloff that began in June last year. The rebound was partly on the notion that a global supply glut that drove prices down by half since last summer may be easing with higher demand ahead of the peak driving season in the United States.
Oil got a boost earlier as the dollar dropped to an eight-week low after data showed the U.S. economy grew much more slowly than expected in the first quarter. A weak dollar makes crude oil more affordable to buyers who hold other currencies.
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