While tremors from Britain's shock vote last week to leave the European Union dampened buying sentiment, oil investors are now looking more to factors specific to their market for guidance, they said.
Top of the list is a looming strike in Norway's oil industry, which could affect just under 20% of the Scandinavian country's oil production.
"Today's price rise is attributable first and foremost to possible production outages in Norway, where there is the threat of strikes in the oil and gas industry from the weekend," oil analysts at Commerzbank said.
US benchmark West Texas Intermediate rose $1.08 to $47.49, while Brent gained $1.11 to $48.88.
The pick-up in the black gold came in line with a recovery in stock markets as speculation swirls that authorities could unveil stimulus measures to offset the impact of the Brexit vote.
Analysts said that the turmoil in the financial markets, triggered by the UK referendum results, is keeping the pressure on oil prices, which look set to clock a monthly loss in June.
