The market has been on edge for weeks over Iran's standoff with the West
Oil prices rose above $68 on Wednesday on the Iran nuclear crisis, offsetting expectations for a build in U.S. domestic crude and product inventories.
U.S. light crude climbed 26 cents to $68.18 a barrel on the NYMEX.
Meanwhile, London's Brent crude jumped 48 cents at $66.47 a barrel at IPE.
The market has been on edge for weeks over Iran's standoff with the West, fearing supply disruptions from the world's fourth biggest oil exporter.