RTRS:Brent rises above $110 on U.S. stimulus hopes
* Euro zone debt woes pare gains
* Brent to target $109
* Coming Up: President Obama speaks on jobs on Thursday (Adds detail, comment, updates prices)
By Christopher Johnson
LONDON, Sept 6 (Reuters) - Brent crude oil rose above $110 a barrel on Tuesday as expectations of a U.S. economic stimulus outweighed fears of recession and a worsening euro zone debt crisis.
ICE Brent futures for October LCOc1 climbed 85 cents to $110.93 a barrel by 0900 GMT, after rising more than $1.
U.S. crude futures CLc1 traded around $84.70 a barrel, down from Friday's close at $86.45. The contract had no settlement on Monday due to the U.S. Labor Day holiday.
Both crude contracts rose briefly after the Swiss National Bank set a minimum exchange rate target of 1.20 francs per euro, but then slipped back to their previous levels. The announcement depressed spot gold by 2 percent.
"Prices are being supported by hopes there will be another economic stimulus," said Carsten Fritsch, commodities analyst at Commerzbank in Frankfurt. "But there is a big risk to the downside in this market. The economy is slowing and it is not clear how the United States will pay for another stimulus." Continued...
