Brent crude oil rose to around $61 a barrel on Friday as fighting in Libya and Iraq stoked output worries, while traders kept a close eye on Iran nuclear talks that could eventually bring more supply to world markets.
Tags: Brent Crude
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Brent crude future prices rose above $61 a barrel on Thursday, as investors brushed aside bearish U.S. inventories data to focus on the lack of a deal in talks over Iran's nuclear program.
European shares clung to seven-year highs on Monday, lifted by merger activity in the telecoms sector, while Asian stocks edged up after China cut interest rates at the weekend.
Crude oil futures rebounded on Friday, with Brent heading for its biggest monthly gain since May 2009, as supply outages in North Sea and renewed fears of gas supply disruption in Europe supported prices.
Oil rose towards $62 a barrel on Thursday as indications of a coming recovery in demand offset a further jump in U.S. crude stockpiles which underlined currently ample supplies.
Oil prices fell on Monday as worries about oversupply in North America and a strong dollar pushed Brent futures towards $59 a barrel and U.S. contracts below $49 a barrel.
Brent crude oil fell below $60 a barrel on Friday as oversupply, supported by record-high U.S. crude stocks, weighed on the market.
Oil rose to $62 a barrel on Tuesday, close to its 2015 high, supported by threats to Middle East supplies and expectations lower prices may prompt a slowdown in U.S. output.
Global shares hit their highest since September and the euro firmed on Monday with investors cautiously optimistic that euro zone finance ministers would reach a funding deal for debt-laden Greece.
Global shares hit their highest since September on Monday and the euro firmed, with investors cautiously optimistic euro zone finance ministers would reach a deal to shore up Greece's dwindling finances.
