After falling earlier on Thursday as a result of dismal economic data from major economies, oil prices have levelled off. Investors are looking forward to Jerome Powell's speech on Friday for hints about future interest rate changes.

Brent crude jumped by 0.1% to $83.27 per barrel, meanwhile US WTI added 0.1%, to $78.93 per barrel.

On Wednesday, manufacturing statistics from numerous purchasing managers' index (PMI) surveys portrayed a dismal image of the state of economies around the world, heightening fears about demand, according to analysts.

For the third consecutive month, industry activity in Japan decreased in August. Additionally, corporate activity in the euro zone decreased more than anticipated, especially in Germany. Britain's economy appeared to contract in the most recent quarter, putting it at risk of entering a recession.

In August, U.S. corporate activity was growing at its slowest rate since February, approaching the point of standstill.

Meanwhile, policymakers from the European Central Bank, the BOE, and the BOJ are traveling to Jackson Hole, where discussions about raising interest rates for a longer period of time may predominate despite a decrease in inflationary pressures.