NYMEX crude for March delivery [CLC
51.77
0.05
(+0.1%)] edged up one cent to $99.57 a barrel by 0002 GMT after falling 14 cents the previous session.
London Brent crude [LCOC
16.98
-0.72
(-4.07%)] rose 16 cents to $111.62 a barrel.
South
Sudan has shut down daily oil output of around 350,000 barrels in a row
with Sudan over export transit fees and will only restart after the two
reach a deal covering border security and the disputed Abyei region,
its oil minister said.
Iran
sent conflicting signals in a dispute with the West over its nuclear
ambitions, vowing to stop oil exports soon to some countries but
postponing a parliamentary debate on a proposed halt to such sales to
the European Union.
U.S. gasoline futures jumped to their highest since late August on Friday on news that ConocoPhillips shut a gasoline-making unit at its Bayway refinery in New Jersey to repair a mechanical problem.
The euro hovered at six-week highs against the dollar on Monday, but faced a subdued session in Asia as investors awaited confirmation that Greece has secured a long-awaited debt deal that will help it avert a messy default.
EU
leaders will sign off on a permanent rescue fund for the euro zone at a
summit on Monday and are expected to agree on a balanced budget rule in
national legislation, with unresolved problems in Greece casting a
shadow on the discussions.
Italy's
six-month funding costs fell sharply on Friday to levels last seen
before the country came to the fore of the euro zone debt crisis last
summer, helping power a rally in its bonds ahead of Monday's more
challenging sale of longer-dated debt.
The U.S. economy grew at its fastest pace in 1-1/2 years in the fourth quarter, but a rebuilding of stocks by businesses and slower business spending warned of weaker growth in early 2012.