French minister optimistic on EU oil embargo deal
U.S. Memorial Day weekend travel to be busiest in two years
U.S. EIA crude and products storage data due later on Wednesday

LONDON, May 25 Reuters Oil prices rose on Wednesday, buoyed by tight supplies and the prospect of rising demand from the summer driving season in the United States, the world39;s biggest crude consumer.

Brent crude futures for July rose for a fifth session running, gaining 99 cents, or 0.87, to 114.55 a barrel by 1208 GMT.

U.S. West Texas Intermediate WTI crude for July delivery rose 1.16, or 1.06, to 110.93.

Oil prices are gaining support from tight gasoline supply, with inventories of the refined oil product down by 4.2 million barrels last week, market sources said on Tuesday, citing American Petroleum Institute figures.

Stockpiles data from the U.S. government is due on Wednesday, with analysts polled by Reuters poll expecting U.S. crude oil and gasoline inventories to have fallen last week.

Just ahead of the summer driving season, U.S. gasoline stocks find themselves at their seasonally lowest level since 2014, said Commerzbank analyst Carsten Fritsch.

U.S. Memorial Day weekend travel is expected to be the busiest in two years, causing fuel demand to rise as more drivers hit the road and shake off coronavirus pandemic restrictions despite high fuel prices.

At the same time, global crude supplies continue to tighten as buyers avoid oil from Russia, the world39;s secondlargest…