Oil prices gapped lower in Asia, but turned positive in Europe and helped the major European stocks advance. At the time of writing, Brent was trading 0.34% or 13 cents higher on the day around $38.80/barrel. Prices hit a low of $38.10 levels earlier today as traders priced-in falling prospects of output freeze accord. WTI oil also traded with 0.40% gains around $36.95/barrel. Moderate gains in oil prices also helped Stoxx 50 index move higher. The index now trades 1.2% higher on the day. Though oil prices have recovered, the gains are hard to come as concerns of excess supply remain intact. For more information, read our latest forex news.