Crude oil prices increased on Thursday as Japan and Germany reported strong economic data.
Brent crude stood 70 cents higher at $57.75 a barrel, while front-month US crude futures increased 80 cents at $52.45 a barrel, Reuters reported.
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In May, a rise in German exports raised expectations that the country can record stronger growth in the second quarter.
Oil prices also received a boost from shares in China recovering following intervention by the government to stop a rout in its stock markets.
Saxo Bank commodity strategy head Ole Hansen told the news agency: "Oil is being pressured on multiple fronts, and China’s equity wobble, the prospect of Iran’s re-entry to the market and low liquidity all add up to an extremely fraught environment."
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Even though there is a demand during the summer driving season in the US, inventories increased adding to global oversupply concern.
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By GlobalDataOnce the nuclear deal between the major global powers and Iran are finalised Iranian exports are expected to increase.
