Brent was up $1.33 at $101.53 and WTI up $1.11 at $89.39 early Thursday. Prices had settled lower on Wednesday after the IEA agreed to speed releases of oil stocks.
Oil prices rose on Thursday on concern about supply from the Middle East as attacks on shipping in the Gulf and the Strait of Hormuz increased, Reuters reported.
Brent crude futures were up $1.33, or 1.33 percent, at $101.53 a barrel by 0116 GMT. US West Texas Intermediate rose $1.11, or 1.26 percent, to $89.39.
Prices had settled lower on Wednesday after the International Energy Agency agreed to accelerate the release of oil stocks and to prioritize diesel under a plan launched in March. Governments are trying to deal with record fuel prices and disruptions from the Iran war, Reuters said.
The strait carried shipments equal to about 20 percent of global oil and fuel before the war. Attacks on tankers using it reached their highest weekly total last week of any week since the war began, even as Gulf producers increase exports, the report said. The United Kingdom Maritime Trade Operations agency said on Wednesday that a tanker north of Qatar was struck by multiple projectiles, causing casualties.
Thursday's move is a price rebound during the Asia session. It does not change the IEA release decision.