The West Texas Intermediate for November delivery added 1.07 U.S. dollars, or 1.5 percent, to settle at 73.30 dollars a barrel on the New York Mercantile Exchange. Brent crude for November delivery increased 1.06 dollars, or 1.4 percent, to close at 77.25 dollars a barrel on the London ICE Futures Exchange.
Prices found some support from U.S. dollar weakness.
The dollar index, which measures the greenback against six major peers, decreased 0.47 percent to 93.0335 in late trading on Thursday. Historically, the price of oil is inversely related to the price of the U.S. dollar.
Oil prices were also lent buoyancy by the decline in U.S. crude oil stocks.
U.S. crude oil inventories decreased by 3.5 million barrels during the week ending Sept. 17, the U.S. Energy Information Administration (EIA) reported on Wednesday.
At 414.0 million barrels, U.S. crude oil inventories are about 8 percent below the five year average for this time of year.
On Wednesday, both crude benchmarks jumped 2.5 percent.
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