LONDON—Oil prices climbed on Wednesday toward last week’s seven-year highs as a draw in U.S. crude stocks confirmed strong demand and tight supplies, but investors remained cautious ahead of an OPEC+ meeting later in the day. Brent crude rose 23 cents, or 0.26 percent, to $89.39 a barrel by 1050 GMT, after easing 10 cents on Tuesday. U.S. West Texas Intermediate crude was up 34 cents, or 0.39 percent, at $88.54 a barrel. Tight global supplies and geopolitical tensions in Eastern Europe and the Middle East have boosted oil prices by about 15 percent so far this year. On Friday, crude benchmarks hit their highest prices since October 2014, with Brent touching $91.70 and U.S. crude hitting $88.84. “I think the 400,000 barrel per day increase (from OPEC+) is priced in, which, judging by recent compliance figures will be less than that due to output constraints,” Tamas Varga, analyst at …