Bullionguru’s, “Oil rises for 6th session, buoyed by US output decline”

A gas pump is seen hanging from the ceiling at a petrol station in Seoul June 27, 2011. REUTERS/Jo Yong-Hak

Crude oil rose for a sixth straight session on Thursday to its highest since June 19 on a decline in U.S. output, but ongoing worries about global oversupply continued to drag.

U.S. West Texas Intermediate (WTI) crude (CLc1) had risen 28 cents, or 0.6 percent, to $44.01 per barrel by 0215 GMT, while benchmark Brent futures (LCOc1) gained 28 cents, or 0.6 percent, to $47.59 a barrel.

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