Oil futures ended modestly higher Thursday as traders focused on prospects for a tighter supply picture.

West Texas Intermediate crude for December delivery on the New York Mercantile Exchange rose 26 cents, or 0.5%, to end at $56.23 a barrel, the highest finish for a most-active contract since Oct. 26, according to FactSet. Crude built on a gain seen Wednesday after the Energy Information Administration reported an unexpected fall in crude supplies and expectations that shale production may be set to cool, analysts said.

Source : Marketwatch