Boosted by optimism about American fuel demand after an unexpected drop in crude and gas inventories, oil prices rose slightly on Thursday, extending the previous day's rise.

American West Texas Intermediate crude futures rose 13 cents, or 0.19%, to $68.74 per barrel. Brent crude oil futures gained 11 cents, or 0.15%, to $72.66 per barrel at 08:05 GMT. Both contracts rose by more than 2% on Wednesday, after falling by more than 6% earlier in the week due to the reduced risk of a wider conflict in the Middle East. Toshitaka Tazawa, an analyst at Fujitomi Securities, said that “the surprise drop in gasoline inventories in the United States provided a buying opportunity as demand appeared stronger