Brent crude futures could hit US$200 a barrel if political unrest spreads into Saudi Arabia, Societe Generale said on Monday.
On Monday, North Sea Brent crude futures were trading about 60 cents higher at around US$117 a barrel by 1404 GMT. U.S. crude was around US$105.70.
Brent fell more than US$2 on Tuesday to below US$113 after Kuwait's oil minister said OPEC is in talks to boost production for the first time in more than two years, soothing markets rattled by the Middle East unrest.
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