The market is focusing its attention on the jobless data to be released by the U.S. and on the weekly oil inventory data to be released by the U.S. Department of Energy.

In exception to the estimates by the analysts, expecting increase in the crude oil stock by one million, the American Petroleum Institute revealed a decrease in the stock levels by 7.3 million.

Eugen Weinberg, Head of Commodity Research at Commerzbank said, “There have been quite a few inconsistencies between the two inventory reports in past weeks”.

Analysts are expecting falling of inventory levels of gasoline by 800,000 barrels, whereas the stocks of distillate including heating oil and diesel rose by 500,000 barrels.

Brent North Sea crude jumped by 6 cents to $78.23 a barrel at London's ICE futures exchange.

New York's main contract, light sweet crude rose by 46 cents at $75.13 per barrel on the New York Mercantile Exchange, which is known as West Texas Intermediate.

Oil prices jumped slightly on Thursday, while the market is waiting for the inventory data to be released by the United States.

For the current year, the estimated growth in world’s oil demand is 1.05 million barrels a day, which is 1.2% to 85.51 million barrels a day.

For the coming year, the expected increase in oil demand is again by 1.2% to 86.56 million barrel a day as estimated by OPEC.