Brent for September settlement traded at $50.03 a barrel, up 33 cents, on the London-based ICE Futures Europe exchange at 1:12 p.m.
Prices on Wednesday gained 86 cents, or 1.8 percent, to close at $49.70.
The global benchmark crude traded at a premium of $2.42 to September West Texas Intermediate.
Prices advanced 72 cents, or 1.6 percent, to settle at $47.12 on Wednesday.
Crude stockpiles at Cushing, Oklahoma, the delivery point for WTI and the nation’s biggest oil-storage hub, fell for a ninth week to 57.5 million barrels last week, the longest run of declines since June 2014, EIA data showed.