Oil prices held steady on Thursday after a two-day gain, as investor confidence was boosted by less-than-expected fuel supplies and US sanctions on Venezuelan production, but US-China trade tensions have weighed on morale.

US WTI futures fell 9 cents to $ 54.14 a barrel.

London Brent crude was up 14 cents at $ 61.79 a barrel.

Data from the US Energy Information Administration showed Wednesday that US crude inventories rose less-than-expected last week due to lower imports.

"Crude oil prices are stronger after signs that OPEC's cuts are beginning to affect trade," ANZ analysts wrote in a note.

US sanctions on state oil company Petroleos de Venezuela (PDVSA) this week have caused some supply disruptions.

Oil stocks began to rise in Venezuelan ports, with BDSA itself unable to export oil at normal rates due to US sanctions this week.

World markets are anxiously awaiting the outcome of talks that began in Washington on Wednesday aimed at easing the months-long trade war between the world's two largest economies.

Source: Yemen News Agency

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