Crude prices rose on Thursday as the dollar weakened against major currencies.

The dollar fell on Thursday as the U.S. job data came in disappointing and Italian and Spanish bond yields dipped. Following last Friday's tepid nonfarm payrolls report, the U.S. Labor Department reported an unexpected 13,000-increase for the initial jobless claims in the week ended April 7, which was the biggest increase in almost a year. This missed economists' estimates and caused concerns about that U.S. economic recovery might be stalling.

The dollar lost about 0.6 percent against a basket of currencies, making oil more attractive and supporting oil's rise.

Meanwhile, hopes for the Federal Reserve's another round of monetary stimulus resurfaced on Thursday as New York Federal Bank president William Dudley said that if the economic outlook did worsen, the policymakers would be ready to adopt a third round of asset purchases. Equities rose and helped lift market sentiment.

But risk premium kept falling as the renewed talks between Iran and the world six major powers neared.

Light, sweet crude for May delivery gained 94 cents, or 0.92 percent to settle at 103.64 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude for May delivery also rose and last traded around 122 dollars a barrel.