U.S. crude and gasoline inventories fall
U.S. oil demand on the rise as summer begins
IsraelLebanon tensions ratchet up

June 21 Reuters Crude oil futures were little changed on Friday but on course to rise for a second week amid signs of improving demand and falling oil and fuel inventories in the United States, the world39;s biggest oil consumer.

Brent futures for August settlement were down 6 cents to 85.65 a barrel by 1100 GMT, while U.S. West Texas Intermediate crude futures for August delivery were down 5 cents to 81.24.

Both benchmarks were headed for a second week of more than 3 gains. Prices have gained about 5 this month to reach their highest in more than seven weeks.

The seasonal demand increase, as shown by the latest EIA data, renewed confrontation between Israel and Hezbollah, and the hurricane season could sustain price strength into the summer, Citi analysts said in a note.

Data from the U.S. Energy Information Administration EIA released on Thursday showed total product supplied, a proxy for the country39;s oil demand, rose by 1.9 million barrels per day bpd in the week ending June 14 to 21.1 million bpd.

The EIA report showed a drawdown in U.S. crude stockpiles by 2.5 million barrels during the week to 457.1 million barrels, compared with analysts39; expectations for a fall of 2.2 million.

Gasoline inventories fell by 2.3 million barrels to 231.2 million barrels, the EIA said, compared with forecasts for a 600,000barrel build.

Demand…