Oil prices traded higher on Thursday after forecasts of tight supply in coming months.
The upside, however, remained capped by data showing an unexpected jump in U.S. crude inventories.
Benchmark Brent crude futures rose half a percent to $92.36 a barrel, while WTI crude futures were up 0.6 percent at $89.01.
Analysts say that the fundamental picture remains bullish due to rising oil demand and OPEC+ cuts to production.
The recent forecasts by the Organization of the Petroleum Exporting Countries (OPEC) and International Energy Agency (IEA) also indicated tight supply in the coming months.
Meanwhile, data from U.S. Energy Information Administration (EIA) showed crude inventories rose by 3.954 million barrels in the week ended September 8th versus expectations for a decrease of 1.912 million barrels.
Gasoline stockpiles increased by 5.56 million barrels last week, much larger than an expected rise of 237,000 barrels, while distillate stockpiles rose by 3.931 million barrels, about 3 times the expected increase of 1.303 million barrels.
