U.S. West Texas Intermediate (WTI) crude futures were at $62.38 a barrel at 0518 GMT, up 70 cents, or 1.1 percent, from their last settlement.
Money managers slashed their bullish wagers on ICE Brent crude oil futures by the most in almost eight months in the week to February 13, data showed, as prices plunged amid concerns of oversupply.
The dollar steadied against a basket of currencies on Wednesday, having pulled up from three-year lows set last week as traders shaved off some of the bearish bets against the U.S. currency.
OPEC's biggest producer, which has cut output since past year under an agreement between OPEC and other producers to ease a supply glut, pumped 9.980 million bpd of oil in December, according to the data from the Joint Organizations Data Initiative (JODI).
However, higher U.S. production seems to be trying to restrain OPEC's efforts.
USA crude stockpiles have continued to build in recent weeks, but exports have grown - leaving something of a hole at the chief U.S. oil hub at Cushing, Oklahoma. WTI gained 4 per cent this week after losing almost 10 per cent last week.
The American Petroleum Institute said last Tuesday that USA crude inventories rose by 3.9m barrels in the week to Feb 9, to 422.4m. Saudi Arabiatold OPEC that it pumped 9.983 million bpd in January.
Some analysts also attributed oil's increases to a broad-based rebound in global stock markets.
OPEC and non-OPEC producers reached an agreement in December 2016 to curtail oil output jointly and ease a global glut after more than two years of low prices.
Traditionally, all eyes have been fixated on China and the pace of its oil demand and imports growth, but lately India has grabbed global attention after its oil imports rose to record highs amid strong economic growth and fuel demand. This story should be enough to underpin prices. The greenback also gained against the dollar to trade at $1.2339. It hit its highest since January 26 at $1,355.50 on Wednesday, and has gained almost 4pc since it dropped to a one-month low last week. The dollar was trading at 107.15 yen, up 0.53 percent. The yield on USA benchmark 10 year Treasury rose to a four year high of 2.9pc.
Selling pressure could resume if hedge fund investors decide to continue liquidating their previously created long positions.
Retail and institutional investment in gold-backed exchange traded funds (ETFs) continues to grow.
Last Thursday, among other precious metals, silver was up 0.2pc at $16.91 an ounce after earlier hitting a more than one-week high of $16.94. European funds, added 7.6 tonnes, while Asian funds had net redemptions equal to 1.4 tonnes during the month.
He had earlier said that Russian curlers were tested on January 22 before arriving in South Korea and the tests were negative. Tirinzoni said if the reports were confirmed, they would be disappointing. "I'm sure surprised", she said.
Total ice accumulations of a tenth to a half of an inch are possible, with the highest amounts toward central Wisconsin. Our area can expect heavy rain Monday night through Wednesday , according to the National Weather Service.
Both the South and North appear to be tip-toeing around these issues during the period of the Pyeongchang Olympics, he said. Defense Secretary Jim Mattis would announce their plans after the Paralympics end March 18 and before April.
Watching her good friend Annalisa Drew bump her off the Olympic podium with her last run made Brita Sigourney sick to her stomach. That run gave Martinod her second straight Olympic silver medal in what will likely be one of the final contests of her career.
A Kurd spokesman said the agreement is strictly military with no wider political arrangements, according to Deutsche Welle. Bozdag said "this offensive will continue with determination until the last terrorist is rendered ineffective".
The winter storm "will result in hard travel conditions this afternoon through Tuesday afternoon", according to the NWS. This is bringing a return to winter conditions, with freezing rain likely holding off for several more hours.
You also get 1GB per day 4G/3G data quota for a validity of 28 days, which takes the total data benefit to 28GB. It should be kept in mind that calling is restricted to 250 minutes per day and 1000 minutes per week.
But wait - today's forecast from the National Weather Service is calling for partly cloudy skies and highs in the low-40s. Many areas will be dry, but places that got snow or rain during the day might well have wet pavement by Sunday evening.
Despite outshooting Canada by an nearly 2-1 margin (45-23), US could not find that game-breaker on Wednesday night. Slovakia pulled off an upset of its own in the first game, stunning tournament favorite OAR 3-2.
The man left the room, but not before snapping off one of the statues' fingers, which he then placed in his coat's pocket. China's official news agency Xinhua reported Rohana admitted to authorities he had the thumb piece in a desk drawer.
Zhou earned personal best scores in both segments of the competition for a new personal best overall total of 276.69 points. Bychenko finished with 172.88 points in ninth place, sneaking in one place above United States fan favorite Adam Rippon.
Marco Asensio: 'Real Madrid are in a good moment'
Just five minutes after the restart, Sergio Ramos thumped a trademark header into the back of the net to level the score-line. That scoreline shows that our opponents, who are on great form, played very well and dominated proceedings for some spells.
Sony to Form Alliance to Build Taxi-Hailing System
Uber CEO Dara Khosrowshahi is visiting the country to underscore the importance of its ¥1.7 trillion ($16 billion) taxi market. After years of little action, Japan's lackluster ride-hailing industry is suddenly seeing a lot of activity.
Diamondbacks agree to terms with OF Dyson
With Martinez likely entrenched in the DH spot, that leaves Hanley Ramirez and Mitch Moreland to share duties at first base. In 80 games from May 12 through the end of the 2017 season, Núñez batted.337 (114-for-338) with an.883 OPS.
Samsung Galaxy S9, S9+ specs detailed, new images ready
The user reportedly works at a retail location in the USA , and recently underwent a training session with the upcoming devices. The two phones will be going to support 64GB of onboard storage with up to 400GB additionally via micro SD cards.
Watson grabs one-shot lead at Riviera
Play was suspended on the second round due to bad light, with American Sam Saunders tied for the lead through 15 on seven-under. It will be just his 25th career missed cut on TOUR in 330 starts once the second round is finished early Saturday.
Best moments from Friday of NBA All-Star Weekend
The 6-foot-6-inch Bogdanovic was drafted in the first round of the 2014 draft by the Phoenix Suns , the 27th overall selection. The trade left Friday's Rising Stars Challenge as the only All-Star Weekend event with Laker participation.
Curling: Canada tumble into 0-3 hole with loss to Denmark
Curling has a deeply ingrained ethos of good sportsmanship, and the rules dictate that players treat their opponents kindly. At the fifth end, South Korea earned two points to widen gap with Canada to 4-1 by pushing out two stones of their rivals.
Disney World to open Toy Story Land in June
The main attraction is Slinky Dog Dash , a family rollercoaster inspired by the pooch spinoff of Slinky, the 1950s classic toy. Toy Story Mania - The last of the rides is a 4D arcade experience that will have passengers travelling through Andy's room.