UK: Oil hits highest since late Feb on Saudi cuts, U.S. stock draw
LONDON (Reuters) - Oil prices hit their highest since late February on Thursday after a fall in U.S. stockpiles added further support following the unilateral decision by Saudi Arabia to cut output.
Brent crude was up 18 cents, or 0.3%, at $54.48 a barrel at 1015 GMT after earlier touching $54.90, levels not seen since before the the first COVID-19 lockdowns in the West.
U.S. West Texas Intermediate (WTI) rose as far as $51.28 and was last up 33 cents, or 0.7% at $50.96.