Brent was steady below $117 a barrel on Wednesday, June 1, supported by disruptions to oil supplies to top consumer the United States and political upheaval in Yemen, while weak economic data from the world's largest economy weighed on the market, Reuters reported.
Brent crude LCOc1 was flat at $116.73 a barrel at 0452 GMT, after touching a three-week high of $117.49 in intraday trading on Tuesday. The sell-off in commodities earlier in May led to Brent posting a 7.3 percent loss for the month, its biggest monthly percentage loss in a year. U.S. crude CLc1 gained 21 cents to reach $102.91 a barrel.
The euro gained slightly on Wednesday on a report that the European Union, International Monetary Fund and European Central Bank were expected to finalize a financial aid package for Greece in the coming days.
A weaker dollar supports the prices of commodities denominated in the U.S. currency by making them cheaper for holders of other currencies.
