Dhaka, March 20 -- Oil prices rose in early trading on Thursday on a decline in US fuel inventories and a ratcheting up of tensions in the Middle East.

Brent crude futures rose 40 cents, or 0.57 per cent, to $71.18 a barrel by 0213 GMT, while US West Texas Intermediate crude (WTI) gained 34 cents, or 0.51 per cent, to $67.50.

The prices rose after US government data showed a higher-than-expected drawdown in distillate inventories for last week, as per a Reuters report.

Distillate inventories, which include diesel and heating oil, fell by 2.8 million barrels last week, more than the 300,000-barrel drop expected in a Reuters poll.

US crude inventories, though, rose 1.7 million barrels, exceeding an expected 512,000-barrel increase.

Glo...