<a href=BP” height=”180″ src=”https://www.offshore-technology.com/wp-content/uploads/static-progressive/nri/offshore/news/800px-BPheadoffice.JPG” style=”padding: 10px” title=”BP, London” width=”240″ />

US crude rose by 18 cents at $92.25, owing to a drop in jobless claims last week which fell to the lowest level in more than four years, thereby offering a positive economic outlook.

Brent November crude fell 23 cents to $115.48 a barrel due to lower output from North Sea oil fields. However, it remained on course for its biggest weekly gain in two months.

Turkey grounded a Syrian plane, which may increase tensions in the Middle East and also have an impact on oil markets in the region.

Maintenance at North Sea oil fields also reduced output and affected prices.

Energy company BP has secured a permit from the US Government to ship US crude oil to Canada while Royal Dutch Shell has applied for an export license, reports Reuters.


Image: BP world headquarters in London, UK. Photo courtesy of WhisperToMe.