The price of Brent crude oil rose this evening, given a lift by rising German and French business sentiment which boosted the euro to a two-month peak against the dollar, while US crude stalled.
Brent rose 57 cents to $97.15 a barrel, while US crude oil fell 49 cents to $89.10.
US crude prices had a sharp price retreat on Thursday, triggered by a rise in US crude stockpiles and concerns China may take more measures to cool stubborn inflation, resulting in slower growth in demand for oil and other commodities.
But the dollar's weakness and the business sentiment data in the euro zone were able to limit US oil's losses. Brent futures have stayed at an unusually strong premium to US crude.
