Oil prices rose on Thursday, recovering from early losses, on hopes that a planned easing of restrictions in Shanghai would improve fuel demand, while continuing concerns over limited global supplies overshadowed fears of slowing economic growth.
Brent crude futures for July rose $1.32, or 1.2 percent, to $110.43 a barrel, after falling more than a dollar earlier in the session.
US West Texas Intermediate crude futures for June rose 62 cents, or 0.6 percent, to $110.21 a barrel, recovering from an early loss of more than $2. West Texas Intermediate crude for July also rose $1.33, or 1.2 percent, to $108.26 a barrel.
Prices for the coming months for both benchmark indices fell about 2.5 percent on Wednesday.