The reports followed disappointing figures on U.S. consumer spending and manufacturing activity earlier in the week , adding to concerns Negative_sentiment over the U.S. economic recovery Grow.strong .

Finally , in 1985 , Riyadh shifted gears , revving up Cause.movement.up.gain output and cutting Cause.movement.down.loss prices in a move that triggered a final slump Movement.down.loss in markets but ultimately paved the way for a gradual recovery Movement.up.gain .

`` Brent prices are set to remain well supported at just below $ 110 given a global growth recovery Grow.strong in H2 2014 , '' Andrey Kryuchenkov , an analyst at VTB Capital , said in a note .

A separate report showed that the number of Americans filing new claims for jobless benefits rose Movement.up.gain for a second week last week , but underlying trends still pointed to a recovery Grow.strong in the labor market .

OPEC 's oil production rose Movement.up.gain in July from June , a Reuters survey found on Wednesday , as a fragile recovery Grow.strong in Libyan supply outweighed fighting Civil.unrest in Iraq and reduced Cause.movement.down.loss output from Angola .

Investing.com -- Crude oil futures were down Movement.down.loss for a fifth day on Thursday , trading close to a five-week low Position.low as concerns Negative_sentiment that the U.S. economic recovery Grow.strong was faltering weighed on future demand expectations from the world 's largest oil consumer .

Oil prices were also supported by U.S. Labor Department unemployment data , which suggested the economic recovery Grow.strong remained on track with initial weekly jobless claims at their lowest Position.low since February 2006 .

The dollar found support on signs the U.S. economic recovery Grow.strong is on track after the Commerce Department reported on Thursday that U.S. gross domestic product grew Movement.up.gain at an annual rate of 3.5 % in the three months to September , beating forecast for 3 % .