oil prices Soared in Thursday morning trade after falling more than 3 percent the previous day on a large rise in U.S. crude inventories and expectations for others rate hikes.

Brent, the benchmark for two-thirds of the world’s oil, was up 0.16 percent at $82.97 a barrel as of 12:06 UAE time, while West Texas Intermediate, the gauge that measures US crude, was down 0 .18 percent to $76.29 a barrel.

Brent was down 3.07 percent at $82.84 on Wednesday as WTI closed…

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