Brent crude and US light crude were up nearly two per cent after data showed a fall in US inventories after two years of surplus.
Shares of Dow components Exxon and Chevron were up more than 1 percent premarket.
The S and P energy index was the biggest gainer on Tuesday among the 10 major S&P sectors.
Global stocks were boosted on Wednesday by mining and energy shares as investors bought into the prospect of continued support from the world’s central banks.
Expectations that the Federal Reserve will lift interest rates off near-zero levels this year are fading, with global growth concerns. – Reuters