Brent crude oil futures rose $1 a barrel at 0837 GMT on Thursday on market expectations as traders awaited the outcome of the European Central Bank's monetary policy meeting later in the day.
The ECB is widely expected to cut interest rates to a record low in order to boost economic growth.
All of Europe's biggest economies are in recession or heading there and show little sign of improvement soon, surveys showed on Wednesday, backing the view that the region's central bank is poised to ease policy.
“There will be a lot of waiting on the sidelines with movements of 50 cents to $1 in either direction. The ECB decision will likely set the trend for the next week,” said Michael Poulsen, oil analyst at A/S Global Risk Management. -Reuters