Oil Rises on US Crude Draw, Iraqi Supply Risks

Yang Mei Hu oil products tanker owned by COSCO Shipping gets moored at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia, on June 13, 2022. Tatiana Meel/Reuters

LONDON—Oil prices rose on Thursday on a surprise drop in U.S. crude stockpiles and a halt in exports from Iraq’s Kurdistan region.

Brent crude futures rose 40 cents, or 0.51 percent, to $78.68 a barrel at 0926 GMT, while West Texas Intermediate crude rose 52 cents, or 0.71 percent, to $73.49 a barrel.