Oil prices rose on Thursday after a U.S. court blocked President Donald Trump's tariffs from taking effect, while the market was watching out for potential new U.S. sanctions curbing Russian crude flows and an OPEC+ decision on hiking output in July.

Crude also rose after the OPEC+ ducked market expectations for an increase in the group’s output quota, while signs of a sharp drawdown in U.S. inventories spurred bets on tighter supplies. Focus is now on an upcoming OPEC+ decision on July production, although the group is now expected to leave output unchanged.

The Court of International Trade ruled that an emergency law invoked by the White House does not give the president unilateral authority to impose tariffs on nearly every country. The Manhattan-based court said the US Constitution gives Congress exclusive powers to regulate commerce with other nations and this is not superseded by the president's remit to safeguard the economy.