Oil prices rebounded on Tuesday on reports that output from the world’s largest oil producers fell during the third quarter, although a resumption in Saudi supply and demand concerns kept a lid on gains.
Brent crude futures rose 9 cents to $62 a barrel by 0300 GMT while US West Texas Intermediate (WTI) crude futures rose 13 cents to $56.04 a barrel.
The pan-European STOXX 600 index rose 0.3%, with the eurozone banking index up 0.6% after it had slumped 2.8% in the previous session.
US crude futures were last up 11% at $61.10 a barrel, coming off highs on expectations other global oil suppliers would step in to lift output. Brent crude soared 13% at $68.06 after earlier rising to $71.95.
Asian equity markets dropped to a six-month low on Monday while gold prices climbed as investors sought safe-haven assets.