Brent crude rose over $1 on Thursday to $116.35 a barrel, heading for its biggest quarterly gain in almost 2 years, as Middle East supply worries led concerns.
Traders, analysts and investors see a new floor for prices around $100 a barrel, supported by supply risks and expanding economies after the most turbulent and volatile quarter for the oil market since the end of 2008.
Brent crude for May advanced 65 cents on Thursday to $115.78 barrel at 0941 GMT, less than $4 from a 2-1/2-year high near $120 on February 24. Brent fell below $108 in the aftermath of Japan's earthquake.
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