Oil prices rose on Thursday as strong German economic data and continued uncertainty about an agreement on Iran’s nuclear program provided lift a day after crude futures tumbled 6 percent.
U.S. crude closed up 37 cents, or 0.73 percent, at $50.79 a barrel, while Brent crude was rose about $1 to $57.80. Both benchmarks dropped around $3.50 on Wednesday.
Brent crude jumped more than 2 percent earlier as European equities strengthened on German industrial output and trade data, and as Greece said it will pay a loan tranche to the International Monetary Fund.
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