03-10-2016 19:23 via uk.news.yahoo.com

Oil up with Brent back at $50 as Iran calls for non-OPEC support

By Barani Krishnan NEW YORK (Reuters) - Oil prices were up nearly 1 percent on Monday, taking Brent above $50 a barrel and U.S. crude to three-month highs after comments by Iran's leader exhorting the need for other oil producers to join OPEC in supporting the market. Iran's President Hassan Rouhani told his Venezuelan counterpart Nicolás Maduro in a telephone conversation that it was essential for oil producing countries to take a decision to raise the price of oil and stabilise the mark
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