Oil prices rose in early Asian trade on Thursday on concerns of lower supply as major producers are keeping output cuts in place and on signs of stronger economic growth in the U.S., the world's biggest oil consumer.
Brent futures for June rose 15 cents, or 0.2%, to settle at $89.51 a barrel at 0037 GMT.
U.S. West Texas Intermediate (WTI) futures for May rose 15 cents, or 0.2%, to $85.59 a barrel.
The comments were positive for oil because they indicated solid U.S. economic growth, said Rob Haworth, senior investment strategist for U.S. Bank's asset management group.
In the Middle East, Iran has vowed revenge against Israel for an attack on Monday that killed high-ranking Iranian military personnel.
Persons:
Brent, Jerome Powell, Rob Haworth, Israel
Organizations:
. West Texas, Oil, Organization of Petroleum, oversupply
Locations:
Los Angeles , California, U.S, Israel, Gaza, Iran, Russia, East