Brent crude extended gains on Thursday to hold above $51 a barrel, after an unexpected fall in US crude stocks snapped a four-session decline the previous day.
Data showing the US economy remained resilient amid slowing global gro
Oil prices rose on Monday, after dropping for the past two sessions, as escalating clashes in Libya stoked worries about supply from the Opec member.
A fire caused by fighting at one of Libya's main export terminals has destro
Saudi Arabia's 2015 state budget assumes an oil price close to current levels of around $60 a barrel for Brent crude, a shift from past budgets which were based on prices well below market levels, analysts say.
The kingdom doe
Brent crude fell towards $81 a barrel on Wednesday, holding just above a four-year low as concerns over a mounting oil glut outweighed geopolitical and supply disruption risks in Ukraine and Libya.
With oil prices having fallen 30
Brent crude fell below $98 a barrel on Monday, down for the third session in four, as sluggish demand and abundant supplies outweighed a possible cut in oil output from the Organization of the Petroleum Exporting Countries (Opec).
Brent crude dropped towards $98 per barrel, while gold tumbled to its lowest in 8-1/2 months on Thursday as the dollar index jumped to a four-year peak on fears about a looming US interest rate increase.
Poor demand and abundant s
Brent crude eased for a fourth straight session on Tuesday but held above $100 a barrel after dropping below that level on the previous day for the first time in 16 months, with prices supported by hopes of production cuts by Opec.
Brent crude held steady below $103 a barrel on Tuesday, with new unrest in Opec oil producer Libya balanced by concerns of slowing oil demand growth due to weak economic recoveries in China and Europe.
Euro zone manufacturing grow
Brent crude oil fell towards $102 a barrel on Thursday, depressed by ample supply and lacklustre demand as global economic growth remains tepid.
Oil supply is expected to exceed demand this year, analysts forecast,
Brent crude nudged up towards $103 a barrel on Wednesday, recovering from a 14-month low hit last week although bountiful global supplies are checking gains.
Oil benchmarks on both sides of the Atlantic Basin have likely bottomed