Mubasher: Oil prices opened Thursday higher in early Asian trades after suffering big losses over the previous sessions. 

By 4:40am GMT, Brent crude added 18 cents, or 0.41%, to hold at $44.09 a barrel and US crude gained 43 cents, or 0.18, to stand at $42.10.

The main driver behind today's early rebound is US dollar's decline after the US Fed decided to hold interest rates, said commodity market analyst Mohamed Al Shati, expecting speculators to just cover losing positions.

The US dollar index slipped 0.18% to 96.58 against a basket of currencies by 4:40am GMT.

Over the upcoming course, oil prices are likely to see a slide due to a weaker demand during the peak summer season and the increase of US crude and gasoline stocks, Al Shati added.

Yesterday, the U.S. Energy Information Administration (EIA) said crude stockpiles jumped 1.7 million barrels last week, against a forecast of a 2.3 million-barrel drop.

Gasoline inventories also rose 452,000 barrels, compared with analysts' expectations for an increase of  40,000 barrels.