Oil prices are back in the green, rising as much as close to 2% intraday.
The gains come just a day after oil prices fell sharply to lows near the 39 level.
The rebound comes on the back of positive trade data from China.
Still, we could expect to see a back and forth movement in the oil markets amid the current economic outlook.
To the upside, a continuation higher will see the 41.00 level being challenged once again.
For the moment, oil prices are firmly entrenched within the 41 and 38.835 levels.