LONDON, Jan 25 Reuters Oil prices rose on Thursday after data showed U.S. crude stockpiles fell more than expected last week, while the Chinese central bank39;s cut in banks39; reserve ratio reinforced hopes of more stimulus measures and economic recovery.
Brent crude futures were up 97 cents, or 1.2, to 81.01 a barrel at 0955 GMT, while U.S. West Texas Intermediate crude was up 1.03, or 1.4, to 76.12 a barrel.
A significant drop in the U.S. oil inventories and expectations of China39;s economic recovery and more stimulus measures supported oil prices, said Toshitaka Tazawa, an analyst at Fujitomi Securities.
Tensions in the Middle East were also behind buying, he added.
U.S. crude stockpiles tumbled by 9.2 million barrels last week, the Energy Information Administration said, while analysts in a Reuters poll had expected a 2.2 millionbarrel draw.
The draw was driven by a stark drop in U.S. crude imports as winter weather shut in refineries and kept motorists off the road.
U.S. crude output fell from a recordtying 13.3 million barrels per day bpd two weeks ago to a fivemonth low of 12.3 bpd last week after oil wells froze.
Oil prices also drew support from hopes for China39;s economic recovery.
China39;s central bank announced a deep cut in bank reserves on Wednesday, in a move that will inject about 140 billion of cash into the banking system and send a strong signal of support for a fragile economy and plunging stock markets.
Meanwhile, geopolitical tensions…