Oil Price Near 11-month High

Oil held near an 11-month high above $76 a barrel on Friday, with news of recovering refinery operations in the United States threatening to cap a two-week influx of investment fund capital into the complex.

London Brent crude shed 15 cents to $76.25 a barrel by 0400 GMT, holding on to a near $1 gain the past session and still within sight of last August's all-time high of $78.65 after gaining more than $6 since near the end of the second quarter.

U.S. crude gained 2 cents to $72.52 a barrel, playing catch up but still way below its London counterpart, amid heavy stockpiles in the U.S. Midwest and reduced North Sea crude supplies due to maintenance and pipeline problems.