Oil prices rose on Thursday ahead of an OPEC+ meeting later in the day, with investors waiting to see what the producer group would do next on supply cuts while also monitoring tension in the Middle East. OPEC+ has been looking to phase out supply cuts through next year. "The OPEC+ decision may prompt a short-term reaction, but the oil market is likely to rise by year-end on expectations of a U.S. economic recovery under the Trump administration and ongoing Middle East tensions," he said. A larger-than-expected draw in U.S. crude stockpiles last week also provided some support to prices. U.S. crude stocks fell more than expected last week as refiners ramped up operations, the Energy Information Administration (EIA) said.

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Persons: Satoru Yoshida, Trump, refiners, Israel, Donald Trump's Middle Organizations: Brent, of, Petroleum, Rakuten Securities, Energy Information Administration, Reuters Locations: OPEC, U.S, Israel, Iran, Lebanon, Qatar, Gaza