Oil

The global oil market should be more balanced next year as China and the developing world increase oil consumption while supply of shale oil from North America and other regions grows more slowly, OPEC said on Monday.

U.S. crude futures fell almost 2 percent on Wednesday as a surprise build in stockpiles pushed the market back down toward the three-month low it touched the previous session.

U.S. crude sank for a second straight day on Tuesday as a near-bankrupt Greece and China's stock market losses sparked an investor flight to safe havens, with technical selling threatening to push oil further into a bear market.

Oil prices rose about 1 percent on Thursday after tame U.S. jobs and economic data signaled the Federal Reserve would be less hasty to raise interest rates while a surge in gasoline futures drove expectations for more crude demand.

Oil prices slumped on Wednesday, with U.S. crude headed for its sharpest daily loss since early April.

Oil prices bounced from three-week lows on Tuesday, with U.S. refined fuels markets leading the rally on bets for strong summer demand, even as Greece's move toward a debt default threatened to jolt global markets.

Crude futures hit 3-week lows on Monday as Greece shut its banks and imposed capital controls, causing widespread risk aversion, while Iran looked likely to extend nuclear negotiations with the West to export more of its oil into an oversupplied market.

Oil prices rose modestly on Wednesday but were under pressure ahead of key U.S. supply data as investors remain wary of the continuing Greek debt negotiations.