Brent rose 12 cents higher at $120 a barrel, after settling $2.79 lower in the previous session, as a decline in global oil consumption and an unexpected surge in US crude stocks raised fears that demand growth may slow.

Weak economic numbers from China and the US indicated that the economy may be in trouble. These factors overshadowed supply disruption concerns from the Middle East, reports Reuters.

US oil gained 24 cents to $101.26 a barrel as crude stocks rose three-fold to 6.6 million barrels, according to American Petroleum Institute reports.