Oil prices increased on Friday amid figures showing demand growth in the US and China, the world's biggest oil consumers.
International benchmark Brent crude traded at $83.62 per barrel at 11.08 a.m. local time (0808 GMT), with an 0.80% increase from the closing price of $82.96 a barrel in to the previous trading session.
The American benchmark West Texas Intermediate (WTI) traded at $79.73 per barrel at the same time, a 1.01% rise from the previous session which closed at $78.93 per barrel.
Data showing a rise in gasoline demand in the US, the world's biggest oil consumer, aided the rise in oil prices.
Gasoline and distillate fuel oil inventories decreased by around 4.5 million barrels and 4.1 million barrels, respectively, the Energy Information Administration data revealed.
Stocks for both sources declined more than market expectations, indicating a high level of demand in the US.
Imports of crude oil in China, the world's largest crude importer and second biggest oil consumer, increased by 5.1% in the first two months of the year compared to last year, according to data published by the General Administration of Customs.
Data indicates a recovery in demand appetite in the country following economic struggles experienced in the aftermath of Covid-19.
Oil prices also received upward support following US Federal Reserve (Fed) Chairman Jerome Powell's speech signaling that the Fed was 'not far' from cutting interest rates.
Powell stated that they are 'not far' from the confidence required to loosen monetary policy and noted that policy makers are aware of the risks that will occur if interest rates are cut too late.
By Zeynep Beyza Kilic
Anadolu Agency
energy@aa.com.tr