New York — Oil inched up on Tuesday, lifted by expectations of another crude stockpile drawdown in the United States but price gains were limited amid the reopening of Libya’s largest oil field. US crude inventories were expected to have fallen for an eighth straight week and dropped 3.4-million barrels last week, a Reuters poll showed, ahead of weekly data. Libya’s Sharara oil field was gradually reopening after its latest shutdown, field workers said. Earlier in the day an oil official said it was shut again hours after reopening on Tuesday following a three-day pipeline blockade. Sharara, which has been pumping up to 280,000 barrels per day (bpd) in recent weeks, has been affected by repeated shutdowns because of protests by armed groups and oil workers. Brent crude rose 36 cents, or 0.7%, at $52.02 a barrel by 4.33pm GMT. Book-squaring ahead of the US crude September contract’s expiry on Tuesday added to price gains, traders and brokers said. US crude futures for September deliv...
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