Dhaka, Feb. 27 -- Oil prices edged up from two-month lows on Thursday after US President Donald Trump announced a reversal of a license given to Chevron to operate in Venezuela, potentially tightening crude supply.

Brent crude oil futures rose 19 cents or 0.3 per cent to $72.72 a barrel by 0154 GMT US West Texas Intermediate crude oil futures were up 16 cents or 0.2 per cent at $68.78 per barrel.

Both benchmarks on Wednesday settled at their lowest since December 10 due to a surprise build in US fuel inventories that hinted at weakening demand and hopes for a potential peace deal between Russia and Ukraine.

Trump on Wednesday said he was reversing a license given to Chevron to operate in Venezuela by his predecessor Joe Biden more than...