Crude oil prices saw marginal increases on Thursday as US commercial crude declined for the second time since January.

According to the US's Energy Information Administration (EIA) on Wednesday, commercial crude oil inventories in the US decreased by 5 million barrels, or 0.9%, to 526.5 million barrels for the week ending May 15, the data showed.

The market expectation was a rise of 1.15 million barrels. Inventories rose by 700,000 barrels during the previous week.

International benchmark Brent crude traded at $36.61 per barrel at 0628 GMT on Thursday after it closed Wednesday at $35.75 a barrel.

American benchmark West Texas Intermediate (WTI) was recorded at $34.16 a barrel at the same time after it ended on Wednesday at $33.49 per barrel.

Due to the COVID-19 pandemic around the world, strict quarantine measures are still in place in many countries, keeping oil consumption low while weak oil demand continues to keep downward pressure on prices.

However, if quarantine measures against the novel coronavirus (COVID-19) start to soften at the beginning of June, crude demand should increase to push prices higher.

By Gulsen Cagatay

Anadolu Agency

energy@aa.com.tr