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Oil gained on Friday while stocks on Wall Street closed lower even as major US and European stock indices posted their best month in at least four years, boosted in part by accommodative monetary policies in the euro zone and Japan.
Oil prices rose after the US oil rig count fell for a ninth straight week, indicating potentially lower crude output in coming months in the face of a global supply glut.
The dollar slipped after data showing US consumer spending in September recorded its smallest gain in eight months as personal income barely rose, suggesting some cooling in domestic demand after recent hefty increases.
European shares closed slightly higher, with the pan-European FTSEurofirst 300 index up 0.01 percent at 1,484.46, while the euro zone's blue-chip Euro STOXX 50 index rose 0.14 percent to 3,418.23.
The two indices posted their best monthly gains in more than six years.
Oil gained on Friday while stocks on Wall Street closed lower even as major US and European stock indices posted their best month in at least four years, boosted in part by accommodative monetary policies in the euro zone and Japan. Oil prices rose after the US oil rig count fell for a ninth straight week, indicating potentially lower crude output in coming months in the face of a global supply glut.
The dollar slipped after data showing US consumer spending in September recorded its smallest gain in eight months as personal income barely rose, suggesting some cooling in domestic demand after recent hefty increases.
European shares closed slightly higher, with the pan-European FTSEurofirst 300 index up 0.01 percent at 1,484.46, while the euro zone's blue-chip Euro STOXX 50 index rose 0.14 percent to 3,418.23.
The two indices posted their best monthly gains in more than six years.
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