LONDON - Global oil prices rose further on Thursday after European Central Bank head Mario Draghi pledged full support for the euro, traders said.
Brent North Sea crude for delivery in September delivery jumped 82 cents to $105.20 a barrel in London midday deals.
New York’s main contract, light sweet crude for September, gained 69 cents to $89.66 a barrel.
Draghi pledged full support for Europe’s single currency in a key speech on Thursday.
The “ECB is ready to do whatever it takes to preserve the euro. And believe me it will be enough,” Draghi told an investors’ conference in London.
Oil prices had also risen on Wednesday, lifted by hopes of central bank stimulus that offset data showing an increase in US crude stockpiles.
Crude futures have also climbed this week on encouraging Chinese manufacturing data. But they plunged by more than $3.50 on Monday as eurozone debt strains.