Oil struck a new record over $82 Wednesday as falling U.S. inventories and the threat of a storm gathering near Florida renewed supply concerns in the world's biggest energy consumer.
U.S. light, sweet crude settled up 42 cents at $81.93 per barrel, after hitting a record $82.51.
London Brent crude gained 88 cents to $78.47 per barrel.
Prices have touched record highs for six consecutive trading days, supported by fears of a possible supply crunch during the Northern Hemisphere winter.
Government data showing a 3.8 million-barrel draw in U.S. crude oil stocks last week added to worries. It was nearly twice analysts' forecasts and the fourth straight fall.
The market already was rallying after the U.S. Federal Reserve's interest rate cut raised expectations energy demand would remain robust.
"The crude draw being more than forecast would prove to be supportive, in a complex that for weeks has eyed the inventory drawdown and the expected tightness in inventories going forward," said Eric Wittenauer of A. G. Edwards in St. Louis.