SINGAPORE (Reuters) - Brent crude futures rose more than 2 percent toward $63 a barrel on Monday as Asian markets firmed into a holiday-shortened week and consensus spread that prices would likely remain above $60 for the rest of the year.
The beleaguered oil price has is bouncing back, following comments from Saudi Arabia's oil minister that the recent rout was "temporary".
Monday 07.30 GMT. Europe's main stock market indices are expected to rise in opening trade, after a rally in Asia followed Friday's strong Wall Street gains.
FILE - This Feb. 14, 2013 file photo shows David Johnson posing in the kitchen of his home at his family's Apple Hills Farm in Chenango, N.Y.
South Korea has lowered its bullish growth forecasts for this year and next, citing weaker than expected domestic consumption, while it is considering lifting some capital control measures to protect itself against higher US interest rates.