Oil prices rocketed back above $50 with sentiment boosted by G20 leaders striking agreements to help stem the economic downturn.
Crude futures were additionally boosted by the European Central Bank's decision to slash euro zone interest rates to record low levels - a move that could help to lift demand for energy.
Oil prices fell yesterday in reaction to a surprise jump in reserves of motor fuel in the US.
This afternoon, London Brent crude rose $4.06 to stand at $52.50 a barrel. New York's crude jumped $3.80 to $52.19 a barrel.
