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Brent crude futures were up 51 cents to $83.54 a barrel at 11:49 ET (1649 GMT). US West Texas Intermediate crude futures were up 64 cents at $78.55 a barrel.
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Brent futures rose $1.03, or 1.3%, to $80.58 a barrel by 12:03 p.m. EST (1703 GMT). US West Texas Intermediate (WTI) crude rose $1.31, or 1.8%, to $75.68.
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Brent crude futures settled down 84 cents, or 1%, at $80.58 a barrel, while US West Texas Intermediate crude fell $1.56, or 2%, from November 22's close to $75.54. There was no settlement for WTI on Thursday owing to the US Thanksgiving holiday.
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Chinese trade data for July to be published later on August 8 is likely to show a 12.5 percent fall in exports from a year earlier, showed the median forecast of 28 economists in a Reuters poll.
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Brent crude rose 33 cents, or 0.8%, to $41.60 a barrel by 0044 GMT after declining more than 1% on Tuesday. U.S. crude was up 42 cents, or 1.1%, at $39.69 a barrel, having dropped by 1.1% in the previous session.
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U.S. West Texas Intermediate (WTI) crude futures erased gains from Wednesday, falling as low as $38.42 a barrel. The benchmark contract was down 2.2%, or 86 cents, at $38.74 at 0031 GMT.
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The extent of the damage that the coronavirus pandemic had inflicted on the oil industry came into focus on April 20, when the U.S. benchmark WTI contract plunged to minus $38 a barrel.
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In this episode of Big Story, Moneycontrol's Sakshi Batra discusses this once in a lifetime event and explains why this may not have much bearing on petrol and diesel prices
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Investors sold the May futures contract due to expire on Tuesday in a series of waves. At one point the contract hit negative $40. When the trading stopped, crude oil had ended the day at a negative $37.63 a barrel, a decline of some 305%, or $55.90 a barrel.
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U.S. West Texas Intermediate (WTI) crude for May delivery was up $38.73 at $1.10 a barrel by 0117 GMT after settling down at a discount of $37.63 a barrel in the previous session.
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U.S. West Texas Intermediate (WTI) crude futures were up by 31 cents, or 0.6%, at $56.41.
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International benchmark Brent futures were at $71.57 per barrel at 0056 GMT, down 16 cents, or 0.2 percent, from their last close.
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IOC, the country's top refiner, has bought 2 million barrels of Louisiana Light Sweet crude and a million barrels of WTI Midland through tender for arrival in July , said the source. The source did not wish to be identified due to the sensitivity of the matter.
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U.S. exports recently set a weekly record with nearly 2 million barrels of crude a day sent overseas. But shipments to India have been rare, with just a few deliveries since the U.S. lifted its ban on crude exports in late 2015.
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IOC bought 1 million barrels each of U.S. Southern Green Canyon (SGC) and WTI Midland crude likely from a Chinese trader, the people said, speaking on condition of anonymity. The purchase was in addition to 2 million barrels of Basra Light crude to be delivered in the same month.
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Crude oil prices are still capped below the key $50-per-barrel mark on concerns about high production from the Organization of the Petroleum Exporting Countries (OPEC) despite its pledge to cut output along with non-OPEC producers.
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Brent crude was yet to trade. On Thursday, it settled down 92 cents, or 1.7 percent, at USD52.19 a barrel, after slumping 5 percent the day before in its biggest percentage decline in a year.
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The euro meanwhile rallied briefly against the dollar as the ECB said it no longer saw a deflation threat and would end some of its massive support for the eurozone economy.
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US benchmark West Texas Intermediate (WTI) crude futures climbed 33 cents, or 0.66 percent, to USD 50.61 a barrel at 0032 GMT, after plummeting 5.38 percent to USD 50.28 per barrel in the previous session, hitting the lowest level since December.
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US West Texas Intermediate (WTI) crude fell 32 cents, or 0.6 percent, to USD 52.82 a barrel as of 0107 GMT, after ending the previous session down 0.1 percent.
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US West Texas Intermediate crude slipped 4 cents to USD53.16 a barrel as of 0042 GMT after settling down 13 cents in the previous session.
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Brent crude futures dropped 20 cents, or 0.4 percent, to USD 55.70 a barrel as of 0459 GMT after settling 1.5 percent higher in the previous session.
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US West Texas Intermediate (WTI) futures gained 10 cents, or 0.2 percent, to USD52.71 a barrel by 0039 GMT after dropping to its lowest since Feb. 9 in the last session. The benchmark Brent crude futures were yet to start trading after falling 2.3 percent on Thursday.
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Crude stockpiles in the United States, the world's top oil consumer, rose by 1.5 million barrels last week, less than forecast, but touching a record at 520.2 million barrels after eight straight weekly builds.
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Investors in the oil market are awaiting weekly inventories data from the U.S. Energy Information Administration due at 1530 GMT on Wednesday.
