Market watchers now await oil cartel Opec's output decision, due out on 5 June.
Bullion market awaits interest rate decisions of BoE and ECB as well as US job data.
Russia's economy could contract by 3.3% this year, reveals a Reuters poll of 15 analysts.
Ukraine, battling separatists and bondholders, has also been hit by the oil rout and international sanctions on Russia.
US government data revealed that supplies fell last week, owing to a temporary fall in Alaskan output.
Jerusalem claims Tehran broke the agreement in 1979 in wake of Islamic revolution.
Recent rally in oil prices would force producers to drill, adding to existing glut, says Goldman Sachs analysts.
CBI president Sir Mike Rake says the cost of leaving will harm Britain's place in the world.
The number of US rigs actively drilling for oil have now fallen for the 23rd week in a row.
US dollar weakened this week, after dismal US data, and the dollar index has now dropped for five weeks in a row.
Saudi Arabia continues to intensify production, moving market share away from high-cost rivals US shale producers.
Riyadh upped crude production and 60% of rigs in US shut.
Help needed to fight extradition and meet bail conditions.
Investing in distressed oil companies could be risky say finance experts.
Morgan Stanley's giant physical oil trading business is the largest and oldest on Wall Street.