IMF HOPES, ASIAN OUTLOOK
News on Wednesday that the International Monetary Fund was seeking to more than double its lending pool by raising $600 billion in new funds remained supportive toward resolving the debt crisis, analysts said.
Expectations for a steadier course in Asian economies also augured well for oil prices, they said.
A Reuters poll of more than 250 economists across Asia suggested that Asian economic growth, though slowing in key economies such as China and India, faced no sharp downturn.
The data implies that energy demand across big emerging economies will keep rising, absorbing supplies from the Middle East and elsewhere and keeping oil markets relatively tight at a time of tension between Iran and the West.
(Additional reporting by Robert Gibbons in New York; Christoper Johnson in London; Editing by David Gregorio and Dale Hudson)