Oil prices rise, Brent at $101.53 pb

Oil prices rose in early Asian trading on Thursday, with Brent crude futures rising US$1.33, or 1.33 percent, to US$101.53 per barrel (pb).

US West Texas Intermediate (WTI) crude futures gained $1.11, or 1.26 percent, to $89.39 pb.

Prices settled lower on Wednesday after the International Energy Agency (IEA) agreed to accelerate oil releases from strategic reserves and prioritise diesel supplies.