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Brent crude futures settled at $77.99 a barrel, gaining $1.89 or 2.5%. U.S. West Texas Intermediate crude settled at $73.17 a barrel, rising $2.15, or 3%.

A Turkish measure in force since the start of the month has caused shipping delays. It requires vessels to provide proof of insurance covering the duration of their transit through the Bosphorus Strait or when calling at Turkish ports.

A total of 28 oil tankers are in a queue seeking to leave the Bosporus and Dardanelles straits, the Tribeca shipping agency said.

Electric vehicle (EV) makers are looking to capitalize on tax incentives provided by the U.S. Inflation Reduction Act (IRA) to lower costs of adopting EVs for commercial purposes.

Investors bid for 24.6 million shares by the final day of bidding, 3.1 times the 8 million shares on offer, exchange data showed.

Milton told U.S. District Judge Edgardo Ramos in court papers that the juror's Twitter and Facebook pages were "riddled with attacks on wealthy executives"

The company is one of the many EV startups struggling to launch its products as a bleak global growth outlook and a funding squeeze dented production schedules and compounded losses.

The company reappointed former chief executive Cheng Lu as its top boss last month after it fired his predecessor Xiaodi Hou following a probe.