The price of oil has gone above $50 a barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery.
Benchmark Brent crude hit $50.22 per barrel at one stage on Thursday, its highest level since early November.
The rise followed US data showing that oil inventories had fallen after supply disruptions due to fires in Canada.
Brent crude has now risen 80% since it hit 13-year lows of below $28 a barrel at the start of the year.
US crude oil inventories fell by 4.2 million barrels to 537.1 million barrels in the week to May 20, according to US Department of Energy data.
Canada is the biggest supplier to the US and wildfires in the western provinces have reduced supplies by about a million barrels per day.
Talks in recent months between Opec and Russia about freezing oil production had already encouraged a price rise.