New York's main futures contract, light sweet crude for delivery in May, gained 86 cents to 53.63 dollars a barrel.
Brent North Sea crude for May advanced 1.13 dollars to 52.88 dollars a barrel.
Jonathan Kornafel, Asian director of energy consultancy Hudson Capital, called the price spurt a "technical rally."
The president of the United Arab Emirates meanwhile said in an interview published on Thursday that an oil price of 70-75 dollars a barrel would be "fair."
Prices are so low now, he added, that "certain producing countries, lacking sufficient income, cannot develop their oil fields."
The current "weak level" of around 50 dollars "hurts everyone and, in our view, a fair price would be 70 to 75 dollars a barrel."
Author: Ksenia Kochneva
