WASHINGTON (dpa-AFX) - Oil prices were up slightly in choppy trade on Thursday after U.S. President Donald Trump said Israel and Hamas have agreed to the first phase of his Gaza peace deal, paving the way for ceasefire.
Benchmark Brent crude futures traded 0.4 percent higher at $66.50 a barrel in European trade while WTI crude futures were up 0.40 percent at $62.80.
The peace agreement that is likely to be signed in Egypt today would see the release of Israeli hostages and Palestinian prisoners, the withdrawal of Israeli forces and the entry of aid into Gaza.
Elsewhere, Ukrainian long-range strikes on Russian energy facilities may have reduced gasoline supplies in Russia by up to a fifth, President Volodymyr Zelenskyy said, as both sides step up attacks on each other's energy infrastructure.
Investors were also reacting to mixed inventory data released by the U.S. Energy Information Administration (EIA) on Wednesday.
The EIA report revealed that crude oil stockpiles in the U.S. climbed by 3.715 million barrels for the week ending October 3, while analysts had estimated a smaller 2.25 million barrels increase.
However, gasoline stocks declined by 1.6 million barrels during the week and distillate stockpiles, which include diesel and heating oil, fell by 2 million barrels, offering some relief.
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