TOKYO: Oil prices climbed on Thursday, reversing previous losses, as a bigger-than-expected draw in U.S. gasoline and distillate stocks prompted buying.
Prices were also buoyed by expectations that soaring natural gas prices as winter approaches will drive a switch to oil to meet heating demand.
Brent crude futures gained 52 cents, or 0.6%, to $83.70 a barrel at 0330 GMT after falling 0.3% on Wednesday.
U.S. West Texas Intermediate (WTI) crude futures climbed 52 cents, or 0.7%, to $80.96 a barrel, after dropping 0.3% the previous day.
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