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International benchmarks for oil prices extended the second consecutive gain on Thursday (25 Feb) after Venezuela's oil minister commented that the country is ready to meet with other producers in March to discuss about ways to stabilise the market. Positive economics data of the US released on Thursday also restored some level of confidence in demand. Analysts believed that the oil market would continue to see-saw in the near term as market is divided in their expectation with one side hopping for a rebound as supply/demand fundamental tighten and another side focused primarily on the excess supplies. 

WTI closed at   $33.07/b (+$0.92)
Brent closed at $35.29/b (+$0.88)

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