Global benchmark Brent crude futures rose 0.4 percent, or 23 cents, at $56.49 per barrel.
Oil prices rebounded on Wednesday after falling for the past three sesssions with worries about oversupply and a slowing global economy keeping markets under pressure though sentiment may be shifting as falling equity markets seemed to stabilize.
West Texas Intermediate futures (WTI) climbed 4 cents, or 0.09 percent, to $46.28 per barrel by 0443 GMT, after plunging 7.3 percent the day before in a session when it touched its lowest since August 2017.
If the build in crude stockpiles is confirmed by US government data Wednesday, it will be the first increase in three weeks.
Oil market investors were also turning their attention to the outcome of a two-day meeting of the US Federal Reserve that is due to end on Wednesday.
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