The Energy Information Agency (EIA) said in its weekly report on Wednesday that U.S. gasoline inventories fell by 3.2 million barrels last week.
Goldman Sachs said it expects price volatility to remain elevated, keeping Brent in a $70-$80 per barrel range in the short term.
Europe must aid Libya to stop migrants crossing the Mediterranean from its shores, by helping it uphold human rights and handle requests from African countries for European asylum, Italy's Interior Minister Matteo Salvini said.
Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export terminals.
Stocks fell and metals prices slumped to their lowest in a year on Wednesday, as U.S. threats of tariffs on an additional $200 billion worth of Chinese goods pushed the world’s two biggest economies ever closer to a full-scale trade war.
Benchmark Brent oil futures LCOc1 rose by 96 cents, or 1.2 percent, to $79.03 per barrel by 1147 GMT.
Barclays raised its outlook for oil prices for this year and next amid expectations of lower supply from Libya and Iran.
Italy has refused to allow a commercial vessel flying an Italian flag to bring ashore rescued migrants, apparently keeping up a hardline policy on new arrivals as it presses European allies to share the burden of hosting an influx of displaced people.
A humanitarian rescue boat carrying 60 migrants rescued off Libya docked in Barcelona on Wednesday after being turned away by Malta and Italy, in the latest example of European divisions on immigration.