Oil prices rebounded sharply on Thursday, climbing more than 3% after both major crude benchmarks suffered steep losses in the previous trading session.
Brent Crude futures rose US$3.51, or 3.72%, to US$97.80 per barrel by 03:44 GMT.
The more actively traded August Brent contract gained US$3.35, or 3.63%, to US$95.60 per barrel. The July contract is due to expire on Friday.
Meanwhile, West Texas Intermediate crude futures climbed US$3.31, or 3.73%, to US$91.99 per barrel.
The recovery followed a sharp decline in the previous session, when both benchmarks fell more than 5% and touched their lowest levels in about a month amid concerns over demand and broader market volatility.
Analysts said the rebound was driven by renewed buying interest after the selloff, alongside continued concerns over geopolitical tensions and the possibility of supply disruptions in key oil-producing regions.
Markets remain highly sensitive to developments surrounding global trade, inflation expectations, central bank policy, and geopolitical risks across the Middle East, all of which continue to influence energy prices.
