Brent above $100 on Fed stimulus hopes, euro zone optimism

Friday, 8 June 2012 00:01 - - {{hitsCtrl.values.hits}}

SINGAPORE (Reuters): Brent crude held steady above $100 on Thursday on expectations the Federal Reserve will introduce measures to boost the economy and European policymakers may rescue ailing Spanish banks - both reviving hopes oil demand growth would recover.

Optimism that central banks from the United States to Europe may announce measures to prevent their economies from deteriorating further boosted markets, from Asian shares to base metals. Most assets classes are recovering from a plunge triggered by weak data from China, Europe and the U.S.

Brent crude had gained 1 cent to $100.65 a barrel by 0631 GMT, after rising as high as $101.18 earlier in the session and settling up $1.80 a barrel on Wednesday. U.S. crude increased 21 cents to $85.23, gaining for a fourth straight day.