Oil jumps after US State Department shake up

Oil prices rose after US President Donald Trump fired Secretary of State Rex Tillerson, sparking a dollar fall and concern that a deal on Iran's nuclear programme could collapse.

May Brent crude futures were up 41 cents at $65.36 a barrel on the ICE Futures Europe exchange by 1415 GMT, off an earlier low of $64.35, while April U.S. West Texas Intermediate (WTI) crude futures were up 34 cents at $61.70 a barrel on the New York Mercantile Exchange.

Both crude benchmarks dropped by around 1% on Monday after the US Energy Information Administration said output from the shale basin would hit a new record high in April, Reuters reported.