Oil prices edged higher in Asian trade today after data showed U.S. inventories rose less than expected and a weaker U.S. dollar made oil cheaper for non-U.S. buyers, Reuters reported.

North Sea Brent futures for March delivery added 12 cents, or 0.2 percent, to $86.24 a barrel.

U.S. light crude rose 30 cents, or 0.4 percent, to $80.45 a barrel.

U.S. crude oil inventories rose by 533,000 barrels to 448.5 million barrels last week, according to the Energy Information Administration.

That was well short of an expected 1 million barrel rise, but still saw US inventories reach their highest level since June 2021.

Oil is traded in different directions

oil price