REUTERS
Oil prices extended gains into a second day in Asian trade on Friday, finding support from brighter economic data and a global stock market rally after the European Central Bank signaled its willingness to launch more stimulus measures, Reuters has reported.
Brent for December delivery rose 30 cents to $48.38 a barrel at 00:33 ET after settling up 23 cents in the previous session.
U.S. crude for December delivery climbed 14 cents to $45.52 a barrel, having risen 18 cents previously, according to Reuters.
The gains followed a slew of upbeat economic data, while ECB president Mario Draghi said new Eurozone pump priming initiatives could be unveiled as soon as December.
"It's all about the numbers," said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance.
"The market is taking the view that governments will not allow economies to falter. These expectations suggest more active economic development will force consumption to go up," he said.