Oil hits two-week high on share market recovery, Middle East tensions

Oil prices hit their highest level in nearly two weeks on Monday, lifted by a global equity market recovery and tensions in the Middle East, although concerns of rising U.S. production tempered gains. Brent crude (LCOc1) was up 34 cents at $65.18 a barrel at 1356 GMT, after rising to an 11-day high of $65.45 a barrel earlier in the session. "Benign stock markets are providing ... as are geopolitical tensions in the Middle East," Commerzbank said in a note.