Today, Thursday, Brent and West Texas Intermediate crude futures prices returned to a rise of 0.3%, after three days of losses, supported by speculation about the possibility of the United States refilling its strategic oil reserves, and anticipation of a possible ceasefire in Gaza.

Analysts suggest that the United States may move to refill its strategic oil reserves if West Texas Intermediate crude falls below $79 per barrel, and the United States aims to buy oil at $79 per barrel or less.

Expectations in the Middle East also indicate the possibility of reaching a ceasefire agreement between Israel and Hamas. Which may contribute to stimulating demand for oil in the United States as the driving season approaches.

Data from the US Energy Information Administration showed that crude inventories rose by 7.3 million barrels to 460.9 million barrels in the week ending April 26, exceeding analysts’ expectations of a decline of 1.1 million barrels.