Oil extends gains towards $57
Oil extended gains towards $57 a barrel on Thursday, after settling at a five-month high in the previous session when a falling number of US job losses and US inventory data brightened hopes for an economic revival.
Oil rose towards $53 a barrel on Monday, continuing its fifth week of gains, bolstered by expectations that the US Treasury's efforts to stabilise the ailing financial system could speed up a recovery of the US economy.