Oil edged above $95 a barrel Monday July 5, 2011 in Asia, bolstered by news that Greece was saved from near collapse after obtaining a vital loan installment.

Benchmark crude for August delivery was up 23 cents to $95.23 per barrel at late afternoon in Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract shed 48 cents to settle at $94.94 on Friday.

In London, Brent crude for August delivery was down 24 cents to $111.53 a barrel on the ICE Futures exchange. Read more »

Oil rose in New York, extending the biggest gain in six weeks, amid concern OPEC may reduce output in response to the International Energy Agency’s move to release oil stockpiles.

Futures advanced as much as 1.5 percent after rallying 2.5 percent yesterday. The IEA’s plan to release strategic reserves sparked speculation that the Organization of Petroleum Exporting Countries may limit output. A U.S. report today may show crude stockpiles fell more than forecast last week, and Greece’s parliament will vote on a plan to cut spending and sell assets. Read more »

Oil climbed above $99 per barrel Tuesday June 28, 2011 following a better-than-expected retail sales report, a decline in the dollar and a broad rally on Wall Street.

The government reported that retail sales slipped 0.2 percent last month, the first decline in nearly a year. Lower cars sales brought down the reading. The report still beat analysts' expectations. Excluding car sales, retail sales rose 0.3 percent. The Labor Department also added some upbeat news, saying that food costs were falling. Read more »

Oil fell below $91 per barrel Friday June 24, 2011 as investors weighed the latest economic data and the planned release of 60 million barrels of oil onto the world market.

Benchmark West Texas Intermediate crude for August delivery rose 9 cents at $91.11 per barrel on the New York Mercantile Exchange. In London, Brent crude, which is used in more international blends, fell $1.76 to $105.50 per barrel on the ICE Futures exchange. Read more »