LONDON, Oct 16: Oil prices saw mixed fortunes on Thursday as traders mulled weekly estimates of US inventories amid nervousness about levels of heating fuel stocks as winter looms in the northern hemisphere.

The price of benchmark Brent North Sea crude oil for November delivery climbed 25 cents to $31.12 per barrel in late trading.

But New York’s reference light sweet crude November contract dipped 22 cents to $31.55 per barrel in early deals.

The US Department of Energy said crude oil stocks jumped 3.8 million barrels in the week to October 10 to 290 million barrels.

“Certainly from the perspective of crude, we had another set of bearish figures,” said Barclays Capital analyst Orrin Middleton.

“This crude stock figure certainly backs up Opec’s move,” he said, referring to the cartel’s decision to curb output by 3.5 per cent from the beginning of November.

“Perhaps the market is still oversupplied and a cut is needed,” Mr Middleton added.—AFP