Oil Prices Near $86

29 April 2010 (Last Updated April 29th, 2010 18:30)

Oil prices rose on Friday, heading for a third straight monthly gain, driven by expectations of global economic recovery. For June delivery, US crude gained 73¢ to $85.90 a barrel, while Brent crude rose 63¢ to $87.53, according to Bloomberg. Oil rose for a third day

Oil prices rose on Friday, heading for a third straight monthly gain, driven by expectations of global economic recovery.

For June delivery, US crude gained 73¢ to $85.90 a barrel, while Brent crude rose 63¢ to $87.53, according to Bloomberg.

Oil rose for a third day after an European Commission report showed a gauge of executive and consumer sentiment in the euro area gained this month.

OPEC said it will reduce shipments for a second month as Asian refiners cut imports amid plant maintenance.