Brent crude hikes to $114.53

Oil remained above $94 a barrel Thursday in Asia after an unanticipated drop in U.S. crude inventories and stronger retail sales helped push prices to a three-month high. Benchmark oil for September delivery was down 2 cents to $94.31 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange, its highest level since mid-May. The contract rose 90 cents to finish at $94.33 per barrel Wednesday in New York. On the ICE Futures exchange in London, Brent crude was up 22 cents at $114.53. In other futures trading on Nymex, heating oil rose 0.7 cent to $3.092 per gallon. Gasoline fell 0.2 cent to $3.082 per gallon. Natural gas rose 0.2 cents to $2.75 per 1,000 cubic feet, according to a report of the Associated Press.