Oil prices rose slightly on Thursday after two sessions of losses, with a smaller-than-expected drop in US crude inventories that undermined demand expectations.

Brent crude futures rose nine cents, or 0.11 %, to $78.74 a barrel, while US West Texas Intermediate crude futures rose 15 cents, or 0.2 %, to $74.67.

Both crudes fell more than one percent on Wednesday after data showed US crude inventories fell by 846,000 barrels to 425.2 million barrels last week.

Source: National Iraqi News Agency