Oil futures rose to above $100 a barrel on Monday, extending the two previous sessions' gains as low prices drew buyers back into the market following sharp drops earlier in the month.
Brent has lost nearly 8.5 percent since t
Slowing global economic growth and receding worries over a loss of Middle East supply are likely to bring lower oil prices for the rest of this year and in 2013, a Reuters poll shows.
Hopes that economic stimulus measures and new
Brent crude oil gained on Wednesday, with investors awaiting the outcome of the meeting this week of the producer group Opec, while gains were capped by worries about Europe's debt crisis and prospects for oil demand.
Iran's oil exports ha
Brent crude fell on Friday, staying below $102 per barrel and extending its May swoon, after weak manufacturing activity data from No. 2 oil user China fueled further selling ahead of a key US employment report.
China's official Purchasing
Crude oil futures dropped on Thursday by more than 1 per cent, ending May with their biggest monthly decline in more than three years as bloated US stockpiles and weak economic data added to worries about the euro zone crisis, all dampening oil de
North Sea Brent crude oil fell more than $1 per barrel on Tuesday, hit by reports of high oil production and expectations of lower demand as economic growth slows in the West.
Brent crude futures for June slipped to a low of $112.11, down
Brent crude futures dropped below their 100-day moving average on Thursday, the first time front-month Brent has moved under that level since January, and US crude fell $2 as economic concerns and higher Opec production weighed on prices.
Oil slipped below $123 a barrel on Monday, following a 14 per cent rise in the first quarter, as economic contraction in Europe outweighed a brighter outlook in China and global supply concerns.
The euro zone's manufacturing sector shrank
Brent crude edged towards $125 a barrel on Wednesday, rebounding from sharp losses a day earlier, as lower-than-expected US crude stocks and a weaker dollar offset the prospect of top exporter Saudi Arabia ramping up supply.
Brent crude rose above $125 a barrel on Friday, posting its sixth weekly gain in seven, as Greece successfully closed its bond swap offer for creditors, a key step towards securing an international bailout to avoid a messy default.