Oil prices rose this evening, reversing earlier losses as strong US jobs figures lifted stock markets and commodities markets.
The data showing a surprise surge last month in US private sector employment was seen as another sign that the US economy is on the mend.
Oil's rally was led by London Brent crude, with traders citing a fire at a chemical plant at the Dutch Moerdijk industrial zone. The fire had a limited impact on Rotterdam-Antwerp shipping traffic, but did not hit Royal Dutch Shell's oil refinery there.
Brent's premium against US crude surged above $5 a barrel, the highest in seven months. This evening, Brent crude rose $1.83 to $95.36 a barrel, while US crude gained 92 cents to $90.30.
Meanwhile, US government data showed that domestic crude stocks fell 4.16 million barrels last week, much more than the forecast for just a 1.8 million drop. This suggested stronger demand for energy.
