Oil prices rose on thursday:il prices rose on Thursday, continuing the gains they started the previous day, driven by optimism about fuel demand in the United States following an unexpected decline in crude and gasoline inventories. Brent crude futures rose 35 cents, or 0.5%, to $72.90 a barrel. US West Texas Intermediate crude futures also rose 32 cents, or 0.5%, to $68.93 a barrel.

According to National Iraqi News Agency, The futures of the two benchmark crudes rose more than 2% on Wednesday, after falling more than 6% earlier in the week on the back of a reduced risk of a wider war in the Middle East. The US Energy Information Administration said that gasoline inventories in the United States fell unexpectedly in the week ending October 25 to their lowest level in two years due to growing demand, and crude inventories also witnessed a surprise decline amid declining imports.