LONDON (SHARECAST) - Crude oil futures advanced for the fifth consecutive session, settling close to $86 a barrel, as US equities marked tepid gains at the start of the results season.
Crude for November delivery settled at $85.81 a barrel, up 40 cents on the New York Mercantile Exchange.
Crude shrugged off earlier losses, closely following modest progress on Wall Street, as it slowly pulled off the previous week’s lows. A lack of economic data and fresh optimism about the eurozone has helped oil prices rise 13% in the last week.
In Europe the Slovakian parliament voted against enhancing the powers of the European Financial Stability Fund, with just 55 members of the 150 members voting in favour. The Slovakian parliament is expected to hold another vote on the ratification later this week.
On the ICE Futures Europe exchanged Brent rose $1.78 to $110.73 a barrel.
Among precious metals gold futures settled lower as investors watched the Slovakian vote play out.
Traders were reluctant to make any big moves as the Slovakian parliament voted on the ratification of the revamped EFSF.
Gold for December delivery fell $9.80 to settle at $1,661 a troy ounce on the Comex division of the New York Mercantile Exchange.
