Crude prices rose on Thursday on positive economic data both from the U.S. and Europe.

After a big sell-off the day before, crude markets got boosted by positive economic data released on Thursday.

The Labor Department said the U.S. initial jobless claims fell further by 5,000 to 330,000 in the week ended Jan. 19, the lowest level since January 2008. More signs of continuing improvement in U.S. job markets buoyed market sentiment.

Meanwhile, the Conference Board's index of U.S. leading indicators increased sharply by 0.5 percent in December following a revised no change reading in November. The results beat market expectations and pointed to a sustained recovery in the world's largest economy through the first half of this year.

Meanwhile, the Markit's preliminary flash manufacturing purchasing managers index (PMI) for the U.S. rose to a 56.1 reading in January from 54.0 in December, a 22-month high. The Markit's survey also showed PMI of euro zone and Germany is solid, easing worries about the bloc's economic recession.

In Libya, an OPEC member state, fears for oil field attacks rose after neighboring Algeria suffered from the crisis. Lingering tension in the oil-rich region lent supports to oil prices.

But the gains were limited by U.S. weekly crude inventories report. The Energy Information Administration said on Thursday that oil stocks increased 2.8 million barrels in the Jan. 18 week, adding to the domestic supplies pressure.

Besides, Enterprise Product Partners, the operator of the Seaway pipeline that takes crude from Cushing, Okla., to the Gulf Coast, said on Thursday it had no timeline for restoring full flows.

Light, sweet crude for March delivery added 72 cents, or 0.76 percent to settle at 95.95 dollars a barrel on the New York Mercantile Exchange.

Brent crude for March delivery edged up 44 cents to 113.24 dollars a barrel.