Oil prices rose on Thursday due to persistent fears regarding the supply from Iran, while optimistic global manufacturing eased concerns over a worldwide economic crisis.
Factory output rose in China, Germany and the US, raising hopes that the global economy will not be pulled down by the European debt crisis, pushing up the euro as well as Asian shares, reports Reuters.
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Brent crude gained 74 cents to $112.30 a barrel, while US crude was up 19 cents at $97.80.
The price was still influenced by US lawmakers, considering a bid to force the Obama administration to blacklist the Iranian Government, which would build on a new oil embargo from Europe, as well as sanctions by the US that seek to shut the Central Bank of Iran (CBI).
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