Mubasher: The oil prices continued to rise in Asian early trades on Thursday, backed by US crude inventories drop.
Brent crude oil added 42 cents to reach $34.92 per barrel.
The US crude oil increased 50 cents to reach $31.16 per barrel.
The US crude stockpiles decreased 3.3 million barrels last week to reach 499.1 million barrels, according to the American Petroleum Institute data on Wednesday.
Oil prices will continue to fluctuate due to investors’ varying reactions to news on oil production freeze, oil analyst Ahmed Hassan Karam told Mubasher.
Karam said that this year will see a balance between supply and demand.
