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(Reuters) - Oil prices rose on Monday, supported by China's premier calling for efforts to stimulate growth and by positioning ahead of Iran's nuclear program talks with major powers. Chinese Premier Wen Jiabao's call for, "giving more priority to maintaining growth" signaled Beijing's willingness to take action after several recent economic indicators suggested that the economy could continue to slow in the second quarter. "China's central bank has already cut bank reserve requirements to stimulate growth and such comments suggest that even more may be done in the months ahead to ward off a hard landing," Addison Armstrong, a senior director at Tradition Energy, said in a note. Group of Eight leaders backed keeping Greece in the euro zone at their summit on Saturday, but a lack of ...

(Reuters) - Brent crude oil slipped towards $112 on Wednesday, on track for its longest losing streak in nearly two years, as political turmoil in the debt-laden euro zone deepened worries about prospects for fuel demand. Rising oil stocks in the United States, and increased production from Saudi Arabia at a time of economic gloom have also helped push oil down from levels near $126 per barrel in April. "The weakness in oil was the result of higher Saudi production and concerns for the U.S. economy and a slow-down in China," said Christopher Bellew at Jefferies Bache. Brent crude was down 46 cents to $112.27 a barrel by 05:04 a.m. EDT (0904 GMT), dropping for a sixth straight session, its longest losing streak since the middle of 2010. Brent settled at $112.73 on Tuesday, the lowest ...

(Reuters) - Shares, precious metals and oil fell and the euro remained pressured on Wednesday as Greece struggled to form a government after an election that saw incumbent parties punished, heightening the risk that a hard-won bailout deal could be scrapped. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS shed 1.4 percent to its lowest in more than three months, with energy .MIAPJEN00PUS, materials .MIAPJMT00PUS and growth sensitive industrials .MIAPJIN00PUS leading the declines. Resources-heavy Australian shares .AXJO plunged 1 percent to a three-week low as oil, precious metals and copper slid. European shares will likely edge up after a mauling on Tuesday, with financial spreadbetters predicting that major European markets .FTSE .FCHI .GDAXI would open 0.6 ...

(Reuters) - Oil prices turned higher on Tuesday after data showing the U.S. manufacturing sector expanded in April at its fastest pace in 10 months eased concerns about slowing economic growth. The supportive U.S. factory data from the Institute of Supply Management (ISM) helped U.S. crude end at its highest settlement in five weeks and lifted equities on Wall Street, sending the S&P 500 index up 1 percent and the Dow to its highest level since December 2007. .N Technical buying kicked in after U.S. crude moved above the 50-day moving average at $105.21 a barrel. Crude had hit formidable resistance at that level in recent sessions. "The ISM data pushed crude up and strong equities are helping, and when crude moved above the 50-day moving average that triggered some technical buying," ...

(Reuters) - Oil eased towards $121 a barrel on Friday after the economy of energy-hungry China expanded at the slowest rate in nearly three years, reinforcing the prospect of slower growth in demand for oil. Braking the price slide was caution ahead of talks between Iran and five permanent members of the U.N. Security Council plus Germany about Tehran's disputed nuclear programme. "The Chinese numbers were a little bit disappointing ... (but) we're not heading into a new substantial downward trend," said Tony Machacek, an oil futures broker at Jefferies Bache Ltd. "There's still quite a few geopolitical issues knocking about." Brent crude, which expires later in the day, slid 30 cents to $121.41 a barrel by 1150 GMT. The contract is heading for a fourth straight weekly decline. U.S. ...

(Reuters) - Asian shares eked out modest gains on Wednesday but the euro struggled for fresh upward momentum over doubts about the long-term feasibility of the Greek bailout and as concerns grew about rising oil prices. Doubts Greece can carry through tough austerity measures in exchange for its 130 billion-euro bailout are expected to weigh on European market sentiment as well. Financial spreadbetters see major European markets .FTSE .FCHI .GDAXI opening flat to down 0.3 percent. MSCI's broadest index of Asia Pacific shares outside Japan .MIAPJ0000PUS fell earlier as much as 0.7 percent before swinging nearly 0.2 percent higher. The index has climbed 14 percent so far this year to rank among the top asset performers. The euro was changing hands at $1.3236 and struggling for fresh ...

(Reuters) - Brent crude rose on Monday, briefly hitting an eight-month high above $121 a barrel, as Iran halted exports to British and French companies ahead of a European Union embargo. Policy easing by China and hopes for a Greek bailout also buoyed prices. Brent crude was trading 84 cents higher at $120.44 a barrel by 1230 GMT, having hit a session high of $121.15 earlier. The level was the highest since mid-June last year. In euro terms, Brent crude is nearing its record high hit in summer 2008, according to Reuters data. U.S. crude hit $105.44 a barrel, its highest since May last year and it was trading $1.76 up at $105.00 around the same time. Volume was moderate due to a public holiday in the United States. OPEC's second-largest producer, Iran, ordered a halt to its oil sales ...

(Reuters) - Brent crude oil inched higher on Thursday, but retreated from early gains, as a large build-up of oil stocks in top consumer the United States countered upbeat economic data globally. But U.S. crude, also known as WTI, fell to its lowest in six weeks as inventory data and expectations of plentiful flows into a key U.S. refining hub. ICE Brent crude for March was up 14 cents to $111.71 a barrel by 1310 GMT after earlier rising as high as $112.50. U.S. crude was at $96.92, down 69 cents. U.S. crude inventories jumped more than 4 million barrels last week, exceeding an expected build of 2.4 million barrels. Gasoline demand fell to an 11-year low. "Everything is looking so bearish for WTI relative to Brent, there's lots of oil heading into Cushing from Canada and the ...

(Reuters) - Brent crude oil struggled to sustain gains made earlier on Thursday as a large build-up of oil stocks in top consumer the United States countered upbeat economic data globally. ICE Brent crude for March was up 9 cents to $111.65 a barrel by 5:16 a.m. ET after earlier rising as high as $112.50. U.S. crude was at $96.92, down 69 cents. U.S. crude inventories jumped more than 4 million barrels last week, exceeding an expected build of 2.4 million barrels. Gasoline demand fell to an 11-year low. But the outlook was not entirely gloomy. Factory activity rose last month in the United States, China and Germany, the world's three manufacturing superpowers, raising hopes the global economy will not be dragged down by the euro zone debt crisis. "We've got a bullish bias, and the ...