Oil prices have surged as the easing of lockdown measures in some countries fuelled hopes for a return of demand - also helping to lift battered global stock markets.

The price of a barrel of Brent crude rallied by 14% to more than $31 as the commodity continued its recovery from an unprecedented slump provoked by the coronavirus crisis.

UK-listed oil giants BP and Royal Dutch Shell climbed 6% and 5%, respectively, helping London's FTSE 100 to end 96 points, or 1.7% higher.

Stock markets in Europe and the US also enjoyed strong gains.

Brent had dipped below $20 to a 21-year low two weeks ago while the price of US benchmark West Texas Intermediate futures contracts even turned negative - for the first time in history.

But Brent has now made gains for six days in a row with the latest sharp uptick of nearly $4 coming as some countries began to ease restrictions that had been put in place because of COVID-19.

Italy, Spain, Nigeria and India, are starting to scale back lockdown measures while states in the US are also doing so, including California later this week.