Oil price rises

Oil prices rose on Thursday as robust US fuel consumption data and expected falls in Russian supply late in the year offset concerns that a possible looming recession could undercut demand.

Brent crude futures climbed $1.43, or 1.5 per cent, to $95.08 a barrel by 0900 GMT. US crude futures gained $1.15, or 1.3 per cent, to $89.26 a barrel.

Prices rose more than 1 per cent during the previous session, although Brent at one point fell to its lowest since February.

Futures have fallen over the past few months, as investors have pored over economic data that has spurred concerns about a potential recession that could hurt energy demand.