Brent
An unexpected dip in U.S. crude oil inventories and production also supported prices, traders said.
Oil prices fell about 3 percent on Thursday, heading back towards their lowest levels for more than a year on worries about oversupply and the outlook for energy demand.
U.S. West Texas Intermediate (WTI) crude futures CLc1 marked $75.90 a barrel around 0630 GMT on Tuesday, their strongest since November 2014.
Spreadbetters pointed to a dour mood elsewhere, with London’s FTSE futures FFIc1 off 0.7 percent and E-Minis for the S&P 500 down 0.3 percent.
International crude oil benchmark Brent was down 40 cents at $72.50 a barrel by 0740 GMT. U.S. light crude was 20 cents lower at $68.56.
WTI’s discount to Brent CL-LCO1=R widened 42 cents to $10.34 a barrel as the global benchmark rose more than U.S. crude futures.
World stocks made little progress on Thursday as worries over global trade tensions weighed.
The U.S. Interior Department has said it wants to open all U.S. coasts for drilling, including the Atlantic and Pacific.
The company did not explain the changes but they could point to closer cooperation between GFH and ADFG,
Oil markets were split on Tuesday, with U.S. crude pushed up by reduced flows from Canada while international Brent prices eased.
Oil prices eased on Thursday, taking Brent crude to a 2018 low, as soaring U.S. output undermined OPEC efforts to tighten markets.
Oil prices on Monday extended declines from the end of last week amid a wider market sell off.
The Saudi stock index added 0.5 percent in the first 45 minutes as the top petrochemical stock.
Oil rebounded more than 2 percent on Friday after falling for five straight session.
Brent crude oil prices were near two-year highs on Wednesday as OPEC has significantly improved compliance with its pledged supply cuts and Russia.
Brent crude futures, the international benchmark for oil prices, were up 12 cents, or 0.2 percent, at $55.91 a barrel.
Brent oil was down at around $55.70 a barrel on Wednesday morning, off about 6 percent from its 2015 high, hit in late September.
The Egyptian government set international Brent prices in new budget at $ 55 per barrel, while the current price is $49.4
Oil prices fell further below $50 a barrel Tuesday on concerns that a diplomatic rift between Qatar and Arab states could undermine efforts by OPEC.
