NEW YORK, April 5 (Xinhua) -- Oil prices rallied on Thursday after official data showed an unexpected decrease in U.S. crude stockpiles.
U.S. crude oil inventories fell by 4.6 million barrels last week to 425.3 million, the Energy Information Administration (EIA) said in its weekly report on Wednesday. Analysts had expected a 2-million-barrel gain.
Investors were also encouraged by eased trade tensions between China and the United States after U.S. officials said the countries could negotiate.
However, a rally in the U.S. dollar limited the gains of oil prices as a stronger dollar made the greenback-dominated less attractive for holders of other currencies.
The dollar index, which measures the greenback against six major peers, increased 0.36 percent at 90.468 in late trading.
The West Texas Intermediate for May delivery rose 0.17 U.S. dollar to settle at 63.54 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery added 0.31 dollar to close at 68.33 dollars a barrel on the London ICE Futures Exchange.
