Oil prices ticked higher on Thursday, with Brent hovering near the $70 mark despite weekly U.S. oil data showed a surprise build in crude inventories and record production.

Brent futures were up 29 cents at $69.60 a barrel around 7:50 a.m. ET (1350 GMT). Brent fell 6 cents on Wednesday, after touching $69.96, highest since Nov. 12, when it last traded above $70.

U.S. West Texas Intermediate crude rose 23 cents to $62.69 a barrel. The contract dropped 12 cents in the previous session after briefly hitting $62.99, also the highest since November.
Global benchmark Brent has gained more then 29 percent this year, while WTI has gained 38 percent. Prices have been underpinned by tightening global supplies and signs of demand picking up.

More at: https://energydiscuss.com/global-brent-crude-oil-edges-up-toward-70-a-barrel/