US crude rose 0.8% to $72.63 a barrel, with a session-low at $71.76.
Oil prices rise for fourth straight session
Global oil prices rose in American trade on Thursday on track for the fifth profit in a row, as Kazakhstan supplies dropped by 30% and amid concerns about a hit to US supplies due to weather conditions.
Such considerations overshadowed a US crude inventory buildup for the fifth straight week according to initial data.
Prices
US crude rose 0.8% to $72.63 a barrel, with a session-low at $71.76.
Brent rose 0.7% to $76.59 a barrel, with a session-low at $75.75.
On Wednesday, US crude rose 0.5%, while Brentt added 0.4%, marking the third profit in a row on concerns about global supply disruptions.
Global Supplies
A drone attack on southern Russia led to disruptions in Kazakh crude supplies to the global markets, and impeded exports.
The attack reflects mounting tensions and concerns about the stability of global supplies, especially as these pipelines are highly vital to shifting oil from Central Asia to the European markets.
A Russian official said a Ukrainian drone attacked a Russian pipeline that pumps 1% of global crude supplies.
The damage could reduce Kazakh oil supplies by 30% and could take two months to fix.
And in the US, cold weather is threatening oil supplies, with experts expecting North Dakota oil production to fall by nearly 150 bpd.
