Crude oil prices have risen after a pledge by United States President Barack Obama to trim deficit spending.
Mr Obama made the pledge in his annual State of the Union speech where he announced plans to extend a three-year partial freeze on government spending.
The plan has bolstered optimism that the Federal Reserve will retain its stimulative monetary policy.
US crude for March delivery rose 54 cents to $US86.73 per barrel by 12.30pm (EST) on Wednesday, after six consecutive days of losses. Brent crude rallied above US97 per barrel.
