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Brent crude rises 13 cents to $57.05/brl

Brent crude rises 13 cents to $57.05/brl
Photo Credit: Arabianeye-Reuters

Mubasher: Oil prices stabilised amid lackluster trading in Asia, as Britain's North Sea Buzzard oilfield ramped up after an outage on Wednesday.

Confidence improved after the EU agreed to a €7bn, three month bridging loan for Greek. This will allow Greece to make a €3.5bn payment due to the European Central Bank on Monday, as well as pay the €1.5bn arrears it owes to the International Monetary Fund, according to the Gordian.

U.S. crude rose 5 cents to $50.95 a barrel at 9:37 Beirut time