Oil jumped more than 3% to above $63 a barrel on Thursday after Iran shot down a U.S. military drone, raising fears of a military confrontation between Tehran and Washington. Also supporting oil were expectations that the U.S. Federal Reserve could cut interest rates at its next meeting, stimulating growth in the world’s largest oil-consuming country, and a drop in U.S. crude inventories. Brent crude, the global benchmark, was up $1.38 at $63.20 a barrel at 0854 GMT, having risen 3.3% to $63.88 earlier in the session. U.S. West Texas Intermediate crude rose $1.45 to $55.21. “It’s a combination of factors,” Petromatrix analyst Olivier Jakob said of the price rise. “You have more supportive stocks data, the Fed indicating they will cut rates and the shooting down of the drone.” […]