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 held above $108 a barrel on Friday, hovering near a three-month high on hopes of a steady recovery in U.S. demand following strong economic data and reassuring comments from the Federal Reserve on monetary stimulus.
Brent crude fell toward $112 a barrel on Friday as unabated euro zone debt woes and a surprise build in US oil stockpiles tempered gains from fears of supply disruption on mounting tensions between Iran and the West.
Investors are treading
US crude futures fell on Wednesday, heading for a decline of 7.7 per cent in their biggest monthly loss since May, on fears that another recession in the United States and a debt crisis in the euro zone could cut fuel demand.
An industry r