Oil prices rose this morning as hopes for strong fuel demand during the coming winter lifted prices.
The market was also supported by political agitation in the Middle East offsetting fears that a global economic slowdown could affect consumption.
Brent crude rose 63¢ to stand at $107.65 a barrel and US January crude traded 37¢ higher at $96.55 a barrel.
Earlier this week, the eurozone debt crisis, combined with weaker economic data from China and the US, increased worries that global growth could slow and reduce fuel demand.
Brent is poised for a third year of gains as an eight-month revolt continues in Syria and street clashes take place in Cairo, Egypt, according to Reuters.