RIYADH: Oil gained 1 percent on Thursday to snap its three-day decline, as risk appetite returned to financial markets after the US Federal Reserve kept benchmark interest rates on hold.

Brent crude futures rose 82 cents, or 1 percent, to $85.45 a barrel by 9:57 a.m. Saudi time, while US West Texas Intermediate crude futures advanced 83 cents, also 1 percent, to $81.27 a barrel.

Both benchmarks settled at their multi-week lows in the previous session.

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