Doha: Oil prices rose in early trade on Thursday, reversing the previous session's losses, buoyed by stronger-than-expected economic data from the world's top oil consumers and signs of easing trade tensions.
According to Qatar News Agency, Brent crude futures rose 27 cents, or 0.39%, to $68.79 a barrel. Meanwhile, US West Texas Intermediate (WTI) crude futures were up 31 cents, or 0.47%, at $66.69. Both benchmarks had fallen more than 0.2% in the previous session.
The latest snapshot of the US economy, released by the US central bank on Wednesday, indicated that economic activity has picked up in recent weeks. This improved economic outlook has contributed to the positive sentiment in oil markets, helping to drive up prices.