Brent crude futures rose by 43¢ to stand at $110.95 this morning for the third consecutive day over Europe’s debt problems.
Eurozone leaders have so far failed to restore confidence in the region’s economy, which has overshadowed tensions between the Middle East and the West over the threat of sanctions against Iran.
US crude traded up by 16¢ to $100.52 a barrel, even through crude inventories increased by 3.93 million barrels to 334.75 million in the week to 25 November.
Traders expected Cushing oil to balance the extra supply following news about the sale of a pipeline between the US Midwest oil centre of Cushing, Oklahoma, and the US Gulf, reports Reuters.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData