Brent crude was flat on Thursday, managing to hold above $60 a barrel as investors brushed aside bearish US inventories data to focus on the lack of a deal in talks over Iran's nuclear programme.
Tehran's ambassador to the
Brent held above $60 a barrel on Wednesday supported by a hike in Saudi crude prices and strikes on oil facilities in Libya.
In a move widely seen as a vote of confidence by Saudi Arabia in demand recovery, the Opec kingpin raised
Oil fell about 1 per cent on Monday after posting its first monthly rise since June, pressured by continued weakness in China's vast manufacturing sector and higher Libyan crude output.
The Chinese central bank cut benchmark l
Crude oil rose sharply on Friday as Brent and US futures posted their first monthly gains since June, supported by an improving demand outlook and supply outages.
On its way to contract expiration, March New York ultra-low sulfur
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.
A reduction in rig counts
Oil rose above $62 a barrel on Thursday as indications of a coming recovery in demand offset a further jump in US crude stockpiles which underlined currently ample supplies.
Crude benchmarks in the US and Europe posted their large
Brent crude fell towards $61 on Thursday, reversing previous gains as a bulging US crude stockpiles offset glimpses of an oil demand recovery.
Both Brent and US crude recorded their largest percentage gains in nearly two weeks at
Brent crude rose marginally towards $59 a barrel on Wednesday, helped by better than expected Chinese factory activity data, the Federal Reserve's flexible stance on US interest rates and the eurozone's approval of reforms proposed by Gr
Brent crude oil fell towards $60 a barrel on Friday as oversupply, underlined by record-high US crude stocks, weighed on the market.
US crude inventories rose 7.7 million barrels to 425.6 million barrels last week, rising for a si
Oil prices tumbled on Thursday as US inventories were expected to hit record highs, while a possible rise in Saudi output could stoke oversupply built up in the past few months.
Meanwhile, production from the world's biggest e