The West Texas Intermediate gained 0.72% to $98.57 per barrel as of 2:37 a.m. ET. Brent crude rose by 0.67% to $96.56 per barrel.

The main oil barrel indexes show a 15% average fall, while most markets worldwide, especially Asian markets, are opening up during early trading hours.

Benchmark U.S. crude was 3.1% higher on Thursday at $97.30 a barrel.

Oil prices were on the rise again amid concerns a "fragile" U.S.-Iran cease-fire could unravel over the Hormuz Strait and ongoing clashes in Lebanon.

The West Texas Intermediate gained 0.72% to $98.57 per barrel as of 2:37 a.m. ET. Brent crude rose by 0.67% to $96.56 per barrel.