Brent crude rose 51 cents to stay above $107 a barrel today, due to raised concerns over potential Middle East supply disruptions.

Tension between Iran and the West remains high after discussions on Iran’s nuclear programme failed to reach a conclusion, reports Reuters.

Meanwhile US crude oil gained 55 cents to $91.4, but further gains were capped by a deepening eurozone debt crisis.

Spain hopes to revive its troubled banks with public funds, but investors are concerned that it could recapitalise other weak lenders.