UPDATE 6-Oil steadies around $108 after Cushing oil stocks draw
* U.S. crude, gasoline stocks rise in past week - EIA
* Cushing oil stocks down for 13th successive week
* Libya crude oil output rises to 700,000 bpd - minister
* Coming Up: U.S. initial jobless at 1230 GMT on Thursday
(Updates detail, prices; paragraphs 1-5)
LONDON, Oct 2 (Reuters) - Brent crude oil steadied around $108 a barrel on Wednesday, consolidating after five weeks of falls, after U.S. data showed lower crude oil stocks at the key Midwest delivery hub.
Figures from the Energy Information Administration (EIA) showed total U.S. crude oil inventories rose by 5.47 million barrels to 363.73 million last week, above a consensus forecast by analysts of a 2.3 million barrel build. 1/8EIA/S 3/4
But oil stocks at Cushing, Oklahoma, the delivery point for the U.S. oil futures contract, fell by 59,000 barrels in their 13th consecutive weekly decline, a move that is likely to keep upward pressure on U.S. futures.
U.S. crude jumped after the data, rising $1.11 to a high of $103.15 before slipping back to trade around $102.90 by 1445 GMT, ending three days of losses.
Brent crude for November rose 10 cents to $108.04 a barrel. The benchmark has fallen by around 8 percent from a six-month high hit in late August.
Oil prices have tumbled over the past month as output has risen, with Libya increasing production, while tensions over Syria and Iran have eased, dampening worries of disruption to production from the giant Middle East oilfields.
Libyan Oil Minister Abdelbari Arusi said on Wednesday oil output had risen to around half the level seen earlier this year, and full production could be restored within days once strikes that have blocked oilfields and ports are resolved.
"Supply is no longer a worry," said Carsten Fritsch, senior oil and commodities analyst at Commerzbank in Frankfurt.
"There is plenty of oil in the market and the risks are to the downside. We expected prices to fall further."
Cushing oil stocks have now fallen for 13 consecutive weeks, EIA data show, but the pace of the drawdown has slowed as supply has improved and analysts say that a U.S. stock rebuild may now be under way.
(Additional reporting by Jacob Gronholt-Pedersen in Singapore; editing by Keiron Henderson)