Front-month Brent LCOc1, the global oil benchmark, had gained USD 1.10 to USD 44.24 a barrel by 0300 GMT (11.00 p.m. EDT), having ended down 7 cents at USD 43.14 on Wednesday.
Some Asian stocks recovered in tandem with US futures even as Chinese shares tanked further. The dollar gained versus a basket of currencies after falling the most since 2011.
After Monday's rout, most Asian stocks recovered in tandem with US futures and Chinese shares pared losses.
There was no floor trading of crude in New York and London yesterday. McCarthy said a resurgent US dollar remained of concern. The greenback was changing hands at 121.74 yen against 121.66 yen Monday afternoon and well up from 121.52 yen in New York on Friday.
China, the world's top energy consumer, saw its economy losing more steam in April despite easier monetary policy, while Europe's largest economy, Germany, slowed in the first quarter. In the United States, retail sales were flat in April, dampening hopes of a sharp rebound in growth in the second quarter.
The People's Bank of China Sunday cut by one percentage point the amount of cash lenders must keep in reserve, the second reduction this year and the latest easing measure aimed at kickstarting the world's number-two economy.
The upwards lift has been sufficient that both Brent and US crude futures are set to post a weekly gain of more than 3 percent despite having been dragged down by record levels of Saudi output and US inventories earlier this week.
The International Monetary Fund on Tuesday cut its global economic growth forecasts for the third time this year, warning of weaker growth in core eurozone countries, Japan and big emerging markets like Brazil.
MARKETS-OIL:Brent inches up towards $112 as China data beats expectations