Via the FT:
Brent crude oil rose above $58 a barrel on Monday to its highest in more than two years, lifted by fast-growing demand and a threat to Iraqi Kurdistan’s crude exports as the autonomous region holds a referendum on independence.
BP’s top oil trader in Asia said the crude market had turned a corner after a three-year slump, with consumption boosted by lower prices and excess inventories finally declining thanks to Opec’s efforts to cut production.