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.

In May, a rise in German exports raised expectations that the country can record stronger growth in the second quarter.

"Oil is being pressured on multiple fronts."

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."

Even though there is a demand during the summer driving season in the US, inventories increased adding to global oversupply concern.

Once the nuclear deal between the major global powers and Iran are finalised Iranian exports are expected to increase.