Oil prices rise in spite of bearish inventory figures

Oil prices rose nearly one per cent on Thursday on track for a fourth straight day of gains, but analysts remained cautious about record-high US crude inventories.
Brent crude futures gained 43 cents or 0.8 per cent to $54.80 a barrel.
US West Texas Intermediate crude futures rose 0.9 per cent or 47 cents a
barrel to $51.60.
WTI touched a session high of $51.77 a barrel.
Refinery runs are starting to increase as US summer driving season approaches and gasoline inventories have been declining.
US government data still shows crude inventories at record levels.