Brent Oil Breaks 5-Day Decline on Chinese Oil Demand, Chavez Death

Reuters reported that Brent crude ended its five-day decline and rose more than one percent on optimism over China demand, North Sea supply issues, and on announcement of President Hugo Chavez’s death.

As quoted in the market news:

Brent crude futures rose $1.52 per barrel to settle at $111.61. The front-month contract for April delivery rose as high as $111.93 a barrel in post-settlement activity, following the announcement of Chavez’s death.

Click here to read the full Reuters report.