investing.com - Crude futures jumped on Wednesday as hopes for an agreement among exporters to freeze output underpinned the market and as investors looked ahead to supply data due out later in the day.
U.S. crude futures jumped $1.19 to $37.08 per barrel at 10:53 GMT.
International Brent futures rose 92 cents to $38.79 a barrel.
Oil futures recovered from one-month lows to end up in the previous session after Kuwait's OPEc governor said there were positive indications an agreement on output will be reached during a meeting in Qatar on April 17.
In addition, the American Petroleum Institute said late Tuesday that U.S. oil inventories fell by 4.3 million barrels last week, surprising traders who were expecting an increase of 2.9 million barrels.
The U.S. Energy Information Administration will release its weekly report on oil supplies 10:30AM ET, amid expectations for a gain of 3.2 million barrels.