Oil prices rebounded to bounce back from four-week lows supported by better market sentiment towards the end of the week.
In the European session, Brent crude futures traded up 1.27% to $75.18 a barrel, while US WTI traded positive at $70.90 with an increase of 1.1%.
The US Senate finally approved a bill to increase the debt ceiling thus preventing the country from experiencing a 'default'.
In addition, the strengthening of oil prices was also supported by data from the Energy Information Administration which showed that crude oil imports had surged last week.
Investors' attention is now focused on the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies called OPEC+ on June 4.
At this point, investors are divided on whether OPEC will decide to cut production further or keep it unchanged.
