Tokyo, January 08 (QNA) - Oil prices gained slightly on Thursday, rebounding from two days of declines, ‍as a larger-than-expected draw in US crude inventories.

Brent crude futures climbed 38 cents, or 0.6%, to $60.34 a barrel, while US West Texas Intermediate crude was at $56.36 a barrel, up 37 cents, or 0.7%.

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.

US crude ‍stocks dropped by 3.8 million barrels to 419.1 million barrels in the ‍week ended Jan. 2, the US Energy Information Administration said. (QNA)