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Oil jumped the most since early February and restored key technical levels after US government promises to protect bank depositors calmed markets.

Oil rebounded as traders boosted bets that OPEC and its allies will work to counteract the plunge in prices over the past four weeks.

Oil rose 3% to settle near $78 a barrel, recouping losses from last week's selloff as traders piled back into the commodity.

Oil climbed from a five-month low, rallying with broader markets after the clearest sign yet that the Federal Reserve's aggressive rate-hiking campaign is over.

The restrictions will be in place for several days.

'If you have the word 'refinery' anywhere in your title, you're not going to get finance'.

China's decades-long boom in oil processing could falter this year in a blow to global demand and the aspirations of OPEC+ producers seeking to return supply to the market.

Oil set its first weekly loss in a month after erasing most of the gains stemming from OPEC+'s surprise output cut.

A rig hired by Eco Atlantic Oil & Gas Ltd. and partners is headed for waters off South Africa.

Oil climbed, building on its biggest weekly advance since early April and extending a short-covering rally, helped by risk-on sentiment in broader markets.