Oil prices increased this morning as hopes for global oil demand during winter overshadowed the European debt crisis.
Brent crude rose above $113 gaining $1.04 for the third consecutive time and US crude traded 21¢ higher at $94.47 a barrel as the contract increased by 1% last week, posting a fifth straight weekly gain.
Go deeper with GlobalData
Concerns about supply disruptions from major producers in the Middle East and North Africa as winter demand sets in also supported crude prices, reports Reuters.
