LONDON—Oil prices rose on Thursday after data showed U.S. crude stockpiles fell more than expected last week, while the Chinese central bank’s cut in banks’ reserve ratio reinforced hopes of more stimulus measures and economic recovery.
Brent crude futures were up 97 cents, or 1.2 percent, to $81.01 a barrel at 0955 GMT, while U.S. West Texas Intermediate crude was up $1.03, or 1.4 percent, to $76.12 a barrel.
