Oil prices rose on Thursday after two days of declines, as a larger-than-expected draw in U.S. crude inventories provided some impetus for investors to buy futures while they monitor developments in Venezuela. Brent crude futures climbed 29 cents, or 0.48%, to $60.25 a barrel at 0718 GMT, while U.S. West Texas Intermediate crude was at $56.25 a barrel, up 26 cents, or 0.46%. Both benchmarks fell more than 1% for a second day on Wednesday with market participants expecting ample global supply this year, including analysts at Morgan Stanley, who estimate a surplus of as much as 3 million barrels per day in the first half of 2026.