NEW DELHI, May 2 Reuters Oil prices rose on Thursday, rebounding from three days of losses, on expectations the lower levels may prompt the U.S., the world39;s biggest crude consumer, to start replenishing its strategic reserve, putting a floor under prices.

Still, prices fell more than 3 on Wednesday to a sevenweek after the U.S. Federal Reserve kept interest rates steady, which may curtail economic growth this year and limit oil demand increases.

Crude was also pressured by an unexpected increase in U.S. crude inventories and signs of an impending IsraelHamas ceasefire that would ease Middle East supply concerns.

Brent crude futures for July gained 58 cents, or 0.7, to 84.02 a barrel by 0633 GMT on Thursday. U.S. West Texas Intermediate WTI crude for June climbed 53 cents, or 0.7, to 79.53 a barrel.

The oil market was supported by speculation that if WTI falls below 79, the U.S. will move to build up its strategic reserves, said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities.

The U.S. has said it aims to replenish the Strategic Petroleum Reserve SPR after a historic sale from the emergency stockpile in 2022 and wants to buy back oil at 79 a barrel or less.

In the Middle East, expectations grew that a ceasefire agreement between Israel and Hamas could be in sight following a renewed push led by Egypt.

Still, Israeli Prime Minister Benjamin Netanyahu has vowed to go ahead with a longpromised assault on the southern Gaza city of Rafah…