February 2, 2015 / 10:17 PM / 3 years ago

Oil extends gains in post-settlement trade, Brent above $55

Feb 2 (Reuters) - Crude oil extended its gains in Monday's post-settlement trade, with Brent crude trading above the key $55 a barrel mark in follow-through buying after Friday's rally.

Brent was up $2.03 at $55.02 a barrel by 5:16 p.m. ET (2216 GMT). It had settled up $1.76, or 3.3 percent, for the session, at $54.75.

U.S. crude rose 1.59 to $49.83 a barrel. It had closed the session up up $1.33, or 2.8 percent, at $49.36.

Oil prices have gained a total of 11 percent over two straight sessions, as some investors bet that a bottom had formed to the seven-month long rout on the market even as others remained pessimistic. (Reporting By Barani Krishnan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below