UPDATE 2-Oil edges up as U.S. crude stocks fall, but soaring output weighs
Dec 7 (Reuters) – Oil prices inched higher on Thursday after a data report showed a decrease in U.S. crude inventories, but rising gasoline stocks and crude production weighed on the market.
U.S. West Texas Intermediate (WTI) crude futures were at $56.18 a barrel at 0424 GMT, up 22 cents, or 0.4 percent from their last settlement.
Brent crude futures LCOc1 , the international benchmark for oil prices, were at $61.49 a barrel, up 27 cents, or 0.44 percent.
Traders said the higher prices came as U.S. crude oil inventories fell by 5.6 million barrels in the week to Dec. 1, to 448.1 million barrels C-STK-T-EIA , putting stocks below seasonal levels in 2015 and 2016. API/S EIA/S
The slightly higher prices also came after a big sell-off in late U.S. trading.