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Israeli Prime Minister Benjamin Netanyahu told the U.S. that Israel is willing to strike Iranian military targets and not nuclear or oil ones, the report said.
By Nicole JaoNEW YORK Oil prices fell by roughly $1 a barrel on Thursday after Angola said it would exit the Organization of the Petroleum Exportin..
Brent futures fell $2.60, or 3.2%, to $78.58 a barrel by 1526 GMT.
September Brent futures climbed 6 cents, or 0.1%, at $79.52 a barrel by 0645 GMT, while August U.S. West Texas Intermediate (WTI) crude gained 5 cents, or 0.1%, to $75.40 a barrel.
Brent futures were up 63 cents at $80.26 a barrel by 1325 GMT while U.S. West Texas Intermediate (WTI) crude was up 51 cents at $76.26.
Brent futures were 51 cents up at $79.91 a barrel by 1256 GMT, having risen as high as $80.05 earlier. U.S. West Texas Intermediate (WTI) crude was up 62 cents at $75.45 a barrel.
Brent futures were up 73 cents, or 1.01%, to $73.06 a barrel by 0957 GMT. U.S. West Texas Intermediate (WTI) crude rose 49 cents, or 0.71%, to $69.09.
Brent crude futures gained 74 cents, or 0.9%, to $79.78 a barrel by 0458 GMT while U.S. West Texas Intermediate crude was at $75.03 a barrel, up 74 cents, or 1%.
Asian markets opened higher on Thursday, led by advances in the energy sector, after overnight gains in oil prices pushed US stocks higher.
Asia markets opened sharply higher on Wednesday with most major indexes advancing around more than 1 percent each, after encouraging reports on the housing market stateside saw gains in US stocks.
Oil prices had risen by more than 14 percent earlier in the week on Saudi Arabia and Russia's agreement to freeze output at January levels.
OPEC has shown resolve to stick to the decision adopted at last year's policy meeting to pump oil vigorously to protect its market share against other producers like Russia and especially US shale drillers.
The Organization of the Petroleum Exporting Countries (OPEC) said that its March production jumped 810,000 barrels per day (bpd) to 30.79 million bpd, which is equivalent to a third of global supply.
Heavy shooting erupted early on Tuesday in the Libyan capital, Tripoli, the latest unrest in the OPEC producer that highlights the government's inability to control militia groups. Brent crude had edged 5 cents higher to USD 106.28 a barrel after hitting a four-month low of USD 105.13 overnight.
Tropical Storm Karen had prompted producers to shut in nearly two-thirds of oil output in the Gulf of Mexico. But it was downgraded to a tropical depression late on Saturday, with production starting to return to normal by the end of the weekend.
Markets will focus on the dollar, which has gained marginally after falling overnight on worries Bernanke may indicate the Fed will continue its economic stimulus for longer than expected.
Brent future prices fell below USD 103 a barrel on the talk of the US Fedeal Reserve rolling back its stimulus. Besides weak global demand and large supplies will weigh on oil.
Brent crude reached USD 103.35 a barrel after settling up USD 1.18 in the previous session. Meanwhile the US oil rose 44 cents to USD 93.75
The US economy showed fresh signs of slowing in the second quarter, with factory activity slipping in the mid-Atlantic region while groundbreaking declined at home construction sites.
Brent futures rose to the highest in nearly a month above USD 105 per barrel on Monday as an Israeli air strike on a Syrian military facility over the weekend stoked supply disruption worries from the Middle East.
Brent futures rose towards $118 per barrel on Friday, heading for a fourth weekly gain as robust trade data from China bolstered the outlook for demand, while escalating tensions in the Middle East stoked concerns over supply.
Brent futures lost ground on Monday after a three-day rally last week, dropping further below USD 112 per barrel as economic worries and concerns of oversupply offset fears of unrest in the Middle East.
MARKETS-OIL:Brent inches up towards $112 as China data beats expectations
Brent futures steadied below USD 112 per barrel on Wednesday as investors awaited Chinese trade data, US corporate earnings and the outcome of a European Central Bank policy meeting to glean insights into the health of the world's biggest economies.
A political crisis in Egypt heralds a new phase of instability in the Middle East that will keep worries about oil supplies from the region intact putting upward pressure on prices, commodities analysts said.
