Oil prices rose today as investors worried that the conflict in the Middle East could widen. U.S. crude stocks decreased by 3.4MM/bbls last week, more than triple the 1.1MM/bbl decline analysts had expected in a Reuters poll. This is the fifth straight week that inventories declined. “Robust exports have helped to offset lower refining activity and strong imports to encourage a fifth consecutive draw to crude inventories,” said Matt Smith, lead oil analyst at Kpler, calling the report “modestly supportive” for oil prices. Limiting gains were concerns about fuel demand in China, the world’s top crude oil importer. China’s manufacturing activity in July shrank for a third month, an official factory survey showed on Wednesday. WTI traded up $3.18 or 4.26% to close at $77.91. Brent traded up $2.09 or 2.66% to close at $80.72.