Crude gains on stockpile concerns

Crude oil prices were up again on Thursday as expectations rise that the continuing gains in stockpiles are about to end with the higher energy demands of summer ahead of the traditional beginning of the summer driving season in the US, which begins this weekend.

West Texas Intermediate July contracts on the New York Mercantile Exchange closed up 3 cents to $51.01 per barrel. It was the fourth gain for WTI in a row.

Meanwhile in London, July IPE Brent finished 9 cents higher at $50.16 per barrel. Both Nymax and IPE will close early on Friday and be closed Monday for public holidays.