The price hike comes against the backdrop of news on Tuesday that the European Union is preparing to impose new sanctions on Russia over its invasion of Ukraine, targeting the Russian oil sector.
Officials said European Commission President Ursula von der Leyen was expected to announce the plans on Wednesday.
By 0001 GMT, Brent crude futures rose 90 cents, or 0.9 percent, to $105.87 a barrel. West Texas Intermediate crude futures rose a dollar, or one percent, to $103.41 a barrel.
Market sources, citing data from the American Petroleum Institute, said US crude and fuel stocks fell last week. The sources said that crude stocks fell by 3.5 million barrels in the week ending April 29 (April).
The US government releases inventory data on Wednesday.
In the previous session, oil prices fell more than 2% due to concerns related to demand due to the prolonged closure measures in China to combat Covid-19.
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