Crude oil futures ended higher on Thursday on reports that Saudi Arabia's energy minister and Russia's deputy prime minister met to discuss about ways to enhance market stability. Crude oil prices were also supported by reports from OPEC and the International Energy Agency that global oil demand will see an increase. Besides, improved risk sentiment in financial markets contributed as well to the rise in oil prices. Credit Suisse reportedly secured a lifeline from Swiss National Bank.
Benchmark crude oil futures for April delivery surged $0.74 or 1.1 percent to $68.35 a barrel on the New York Mercantile Exchange. Brent crude for May delivery rose $1.37 or 1 percent to $74.70 a barrel on London's Intercontinental Exchange.