Oil prices rose in early Thursday trading, after declining in the previous session, supported by a decline in crude and gasoline inventories in the United States, while expectations for future oil demand varied due to conflicting statements from Federal Reserve policymakers.

The decline in crude and gasoline inventories in the United States supported oil prices. Crude inventories decreased by 2 million barrels, which is more than analysts expected, and gasoline inventories decreased by 3.3 million barrels. This reflects strong demand for fuel.

In contrast, conflicting expectations from Federal Reserve policymakers regarding interest cuts this year have put pressure on oil prices. Moreover, the Federal Reserve has kept interest rates high; Which may lead to lower economic growth, and thus lower demand for oil.

Some policymakers expected rate cuts this year, while others expected interest rates to remain high for longer. By 0155 GMT, Brent crude futures for May settlement rose 0.6 percent, or 52 cents, to $86.47 a barrel, and West Texas Intermediate crude futures also increased. US May delivery 0.5 percent, or 45 cents, to $81.72 a barrel.

Oil prices are expected to remain volatile for the time being, as the market continues to monitor economic inventory data and statements from Federal Reserve policymakers. The war in Ukraine will also play a role in determining the direction of oil prices in the future.