Oil prices rise to near 11-month highs after Saudi blast reports
Oil prices ticked up on Tuesday alongside rising European shares and amid reports of a blast in Saudi Arabia, trading near 11-month highs.
Brent crude was up 43 cents, or 0.8%, at $56.31 by 1117 GMT, while U.S. crude rose 43 cents, or 0.8%, to $53.20. Both contracts rose nearly 1% on Monday and are set to post the third monthly rise in a row.
Prices moved up slightly after reports of a blast in the Saudi Arabian capital Riyadh, although the cause remains unclear.
In Europe, gains in financial services and chemical sectors helped stocks rise on Tuesday . Risk assets such a equities and oil often move in tandem.
