Oil Rises on US Inventory Draw, Dollar Weakness

LONDON—prices rose on Thursday, extending the previous session's gains, on a bigger-than-expected weekly withdrawal from U.S. crude storage and a weaker dollar after the U.S. central bank signalled lower borrowing costs for 2024. Brent futures was up $1, or 1.3 percent, to $75.26 a barrel as of 0900 GMT. U.S. West Texas Intermediate (WTI) crude climbed 80 cents, or 1.1 percent, to $70.27. "Crude oil prices rebounded before the Fed meeting, and the event lifted them further," said CMC Markets analyst Tina Teng in a client note. The dollar dropped to a fresh four-month low on Thursday after the U.S. Federal Reserve's latest economic…