Oil prices jumped on Thursday, as signs the U.S. crude glut was not growing as quickly as many had feared brought an upbeat close to one of the most volatile months for oil trading in history.

On Thursday, the last day as the front-month, Brent futures for June delivery rose $2.72, or 12%, to $25.26 a barrel. West Texas Intermediate crude for June delivery jumped 25%, or $3.78, to settle at $18.84 per barrel.

Brent, the international benchmark, is on track to gain about 12% in April after falling more than 65% over the prior three months. WTI, meanwhile, is on track for its fourth month of declines, with a 12% loss in April and a 70% fall so far this year.

Source: CNBC