New Delhi: Crude oil prices edged slightly higher on Thursday after US President Donald Trump reaffirmed his commitment to maintaining pressure on Iranian oil revenues. The gains were further supported by a sharp drop in US crude inventories, suggesting robust demand in the world’s largest economy.

Oil prices climbed on Wednesday as investors assessed the stability of a ceasefire between Iran and Israel, but held near multi-week lows on the prospect that crude oil flows would not be disrupted. Brent crude futures rose 85 cents,

Oil prices tumbled by 5% on Tuesday after Israel agreed to a ceasefire with Iran after nearly two weeks of conflict. Brent crude, the international benchmark for oil prices, fell below $67 a barrel by the end of the day, though it then recovered some ground in later trading.