Global oil prices surged on Wednesday despite negative factors as expectations rose about an improved U.S. economy.

On the New York Mercantile Exchange, West Texas Intermediate for May delivery gained 24 cents to close at 96 dollars and 58 cents per barrel.

At the London ICE Futures Exchange, Brent crude traded at 109 dollars and 67 cents per barrel, up 31 cents from the previous day.

Prices rose after expectations surged over improved indices of the U.S. economy.

At the New York Stock Exchange, stocks turned relatively negative while gold prices surged after declining for the past three days.