Oil prices surged by more than 3 per cent on Thursday, recovering after the sharp losses recorded in the previous trading session.
Brent crude futures climbed USD3.51, or 3.72 per cent, to reach USD97.8 a barrel by 0344 GMT. The more actively traded August contract also advanced by USD3.35, or 3.63 per cent, to USD95.6. Meanwhile, the July contract is due to expire on Friday.
US West Texas Intermediate futures gained USD3.31, or 3.73 per cent, trading at USD91.99.
Both benchmark indices had fallen over 5 per cent on Wednesday, hitting their lowest levels in a month.
