This Thursday, oil prices rose after data showed that U.S. crude inventories fell more than expected last week.

American West Texas Intermediate crude rose 22 cents, or 0.3%, to $75.31 per barrel. At 01:28 GMT, the March contract for Brent oil gained 20 cents, 0.3%, to $80.24 per barrel at 01:28 GMT. According to Toshitaka Tazawa, an analyst at Fujitomi Securities, “a significant drop in American oil inventories and expectations of China's economic recovery and further stimulus measures have supported oil prices.” Oil prices have also been supported by hopes of China's economic recovery.