Crude oil prices have continued their recovery from their lowest level in four years as markets opened with gains on Wednesday on the hopes that economic stimulus in the U.S. would trigger an increase in global oil demand.

International benchmark Brent crude was trading at $38.16 per barrel at 0603 GMT on Wednesday for a 0.87% jump after closing Tuesday at $37.83 a barrel with a 10.10% increase.

American benchmark West Texas Intermediate (WTI) was at $34.98 a barrel at the same time for a 2.73% increase after ending the previous session at $34.05 per barrel with a 9.38%

Read more: Oil prices continue recovery from 4-year lows