Oil prices were up on Thursday morning in Asia as they continued to claw back their massive losses from the beginning of the week.
Brent oil futures rose 0.87% to $20.95 by 9:49 PM ET (2:49AM GMT) and WTI futures jumped 3.12% to $14.21.
Oil surged up to 40% during the previous session as U.S. President Donald Trump tweeted an instruction to the U.S. Navy “to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea” overnight, and short sellers covered their positions.
But the black liquid list some of its gains as investors digested a rise in crude oil stockpiles for the 13th consecutive week. The Energy Information Administration (EIA) reported a 15-million-barrel build for the past week.