WASHINGTON (dpa-AFX) - Oil prices rose further on Wednesday, after having snapped a four-day losing streak the previous day.
Benchmark Brent crude futures jumped 0.9 percent to $77.14 a barrel, while WTI crude futures were up 0.9 percent at $73.85.
A sense of calm returned to financial markets and Treasury yields rebounded after Federal Reserve officials reassured investors that the U.S. is not headed for a recession.
Elsewhere, the Bank of Japan played down the chances of a near-term rate hike, triggering a sharp fall in the yen.
On the geopolitical front, traders braced for a possible new wave of attacks by Iran and its allies following last week's killing of senior members of fighter groups Hamas and Hezbollah.
Fears of supply disruptions as a result of increased tensions in the Middle East helped counter mixed inventory data from the American Petroleum Institute (API).
The API reported a smaller than expected build in weekly domestic crude stocks, but an upside surprise in gasoline stocks.
The official government inventory report is due later in the day.
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