Oil prices advanced on Thursday as a drawdown of U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains. Brent crude futures for July delivery were trading up 33 cents, or 0.9%, at $36.08 per barrel at 0344 GMT, rising for a second day. U.S. West Texas Intermediate (WTI) crude futures for July were up 20 cents, or 0.6%, at $33.69 a barrel, extending its gains into a sixth straight session.
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