Oil prices settled higher on Thursday after flip flopping during the session, supported by a bigger draw than expected in U.S. crude inventories but pressured by fears that rising interest rates that could dent global economic growth. U.S. WTI crude futures rose 30 cents per barrel to close at $69.86 per barrel. Brent crude futures rose 31 cents per barrel, closing at US$74.34/bbl. Inventory numbers came in today – U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 9.6 million barrels’ week over week. At 453.7 million barrels, U.S. crude oil inventories are 1% below the five-year average for this time of year. Gasoline, Distillates and propane all had builds – Other than propane we are below all 5 year averages.