West Texas Intermediate crude rose on speculation that central banks will bolster stimulus after more Americans than projected filed applications for unemployment benefits and U.S. consumer prices decreased.

Futures climbed as much as 1.2 percent as Labor Department figures showed that jobless claims exceeded all forecasts in a Bloomberg survey of economists. The U.S. cost of living fell in April for a second month, the first back-to-back declines in prices since late 2008. St. Louis Federal Reserve President James Bullard said last month that persistent disinflation may require the central bank to provide additional stimulus.

WTI oil for June delivery rose $1.12, or 1.2 percent, to $95.42 a barrel at 11:15 a.m. on the New York Mercantile Exchange. Prices dropped as much as $1.07 before the release of the U.S. figures at 8:30 a.m. in Washington. The volume of all contracts traded was 54 percent above the 100-day average for the time of day.

Brent crude for June settlement, which expires today, advanced 37 cents, or 0.4 percent, to $104.05 a barrel on the London-based ICE Futures Europe exchange. The more actively traded July futures increased 65 cents, or 0.6 percent, to $104.15 a barrel. Volume for all contracts was 25 percent greater than the 100-day average.