Global benchmark Brent rose 34 cents, or 1%, to settle at US$36.09 per barrel. U.S. West Texas Intermediate crude (WTI) closed up 43 cents, or 1.28%, to $33.92.
NEW YORK: Global benchmark Brent rose more than 1% on Thursday to its highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease coronavirus restrictions on people's movements.
Oil has slumped in 2020, with Brent hitting a 21-year low below $16 a barrel in April as demand collapsed. With fuel use rising and more signs that the supply glut is being tackled, Brent has since more than doubled.
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