Oil prices rose Thursday on a report showing that U.S. oil refineries were accelerating gasoline production ahead of the summer driving season even as U.S crude and gasoline supplies fell. The drop in oil stocks was unexpected, and draws on gasoline supplies greater than forecast. Light, sweet crude for May delivery rose 5 cents to US$63.18 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. The contract, which expires Friday, had settled 3 cents higher at US$63.13 a barrel Wednesday after a rally from earlier losses. Brent crude for June delivery rose 67 cents to US$66.71 a barrel on the ICE Futures exchange in London, the Associated Press reported. U.S. refineries boosted their operation by 2 percent in the week ended April 13, the U.S. Department of Energy said in its weekly inventory report, above expectations of a 0.4 percent rise. The report also showed U.S. gasoline inventories fell by 2.7 million barrels, more than the expected 1.5 million barrel decline. Crude oil stocks, meanwhile, fell by a million barrels to 332.4 million barrels _ countering expectations for an increase of 500,000 barrels. In other Nymex trading, heating oil futures climbed 2.3 cents to US$1.8300 a gallon (3.8 liters) while natural gas prices gained 3 cents to US$7.529 per 1,000 cubic feet.
