Oil Extends Gains for Fifth Session on Mideast Tensions, US Data

OIL PRICE - LONDON. Oil prices rose for a fifth consecutive session on Monday, extending gains from the previous week's more than 3% rise, as U.S. recession fears eased while geopolitical tensions in the Middle East supported prices.

Brent crude futures were up 73 cents, or 0.9%, to $80.39 a barrel by 0812 GMT, while U.S. West Texas Intermediate crude futures rose 88 cents, or 1.2%, to $77.72.