Brent crude rose above $54 a barrel on Tuesday, recovering some of the previous session's losses when it dropped to a six-week low, although concerns over a worsening global supply glut kept a lid on gains.
US crude, or West T
Oil prices fell on Monday, with US crude dropping nearly 3 per cent to a six-year low as the dollar hit fresh highs and spare oil storage capacity runs low around the world.
Both US crude and Brent have dropped steeply this month
Brent crude climbed towards $58 a barrel on Thursday for the second straight session as speculators covered their positions ahead of the April contract's expiry, while a strengthening dollar and a build in US crude stocks capped prices.
Brent crude rose towards $57 a barrel on Wednesday, paring some of the previous session's sharp losses, after data showed US crude stocks fell for the first time in two months.
The benchmark closed nearly 4 per cent down in th
Brent crude fell towards $59 a barrel on Monday as upbeat jobs data pushed the dollar higher, outweighing geopolitical tensions and the threat of output cuts in Libya and Iraq.
That came as Goldman Sachs on Sunday forecast oil pri
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
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
The world's three big energy agencies are forecasting higher demand for Opec's crude oil this year, a sign the producing nations' strategy to let prices fall is starting to win them back market share from rivals who are cutting outpu
Oil hit its highest level for the year on Friday with Brent crude rising above $60 a barrel, as eurozone economic growth exceeded expectations and market bulls priced in another drop in the US oil rig count.
Bets that falling expl
Brent crude held steady above $56 a barrel on Wednesday, and US crude rose briefly more than $1, after a smaller than expected rise in US crude stocks were viewed by some as a sign that a supply glut was starting to abate.