West Texas Intermediate crude prices for July delivery rose by 0.23% to $60.11, while Brent crude for August rose by 22% to $63.84 a barrel. The rise in U.S. crude prices was partly caused by a tropical storm in the oil-producing state of Texas. However, globally excessive supplies limited gains and pressured Brent.

API data showed yesterday that U.S. crude inventories fell by 2.9 million barrels in the week ended June the 12th, crude stocks at Cushing rose by 329,000 barrels, while Gasoline stocks fell by 2.9 million barrels.