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Oil prices rose on Thursday under "Gulf tensions" and a sharp weekly decline in US crude inventories, but gains are held back by worries about demand prospects, as signs of a slowdown global economic growth is increasing.
At approximately 1850 GMT, London Brent crude was up 28 cents, or 0.4%, to $ 63.46 per barrel after falling 1% overnight, the first drop in four sessions.
US crude futures prices rose 27 cents, or 0.5 percent, to $ 56.15 a barrel after dropping 1.6 percent in the previous session, according to the Reuters news agency.
Investors are worried that slowing global economic growth may weaken oil demand.
Following a series of downgrades in the oil market, FGI Energy Advisory has lowered its global oil demand growth forecast to 740,000 bpd on average in 2019.
In exchange for these fears, tensions in the Middle East arise after Iran's seizure of a British flag bearer in the Gulf last week.
At the same time, crude inventories in the United States fell by about 11 million barrels last week to exceed badysts' expectations, which indicated a drop of four million barrels.
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