Crude oil prices began rising after initial dips on Thursday, but remained within a narrow range that has been in place since late April as contradicting views of an oversupplied versus a tightening market push prices up and down.
Oil prices eased on Tuesday as the market remained oversupplied and the dollar gained on fears that Greece would not be able to repay its debts.
Greece paid about 750 million euros ($836.70 million) to the International Monetary F
Oil fell on Friday (May 8), erasing gains earlier in the session, as concerns over oversupply outweighed strong Chinese import figures.
Benchmark Brent crude was at $65.42 per barrel at 0500 GMT, down 12 cents after hitting a sess
Oil prices dipped on Wednesday as oversupply outweighed political uncertainty in Saudi Arabia where King Salman relieved the crown prince as well as several senior ministers and the chief executive of national oil company Saudi Aramco.
Brent crude oil hit 2015 highs above $63 per barrel on Thursday after a rally of more than 5 per cent the previous session and analysts said more price rises were likely despite market oversupply.
Front-month Brent crude futures r
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
Global oil prices tumbled on Friday and fell 9 per cent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency (IEA) that the oil glut is growing.
Data that showed a sharp drop in the nu
The Organisation of the Petroleum Exporting Countries Secretary-General said on Sunday that the group's exporters should not cut output to "subsidise" higher-cost shale, an energy source whose recent growth is blamed by Opec for we
Brent crude oil prices steadied above $60 a barrel in early Asian trading on Tuesday, supported by traders entering the market after prices dropped sharply in the previous session on the back of record US stocks.
Brent futures fel