Independent Nigerian drillers want to supply more crude, in defiance of OPEC and Russia's pact to restrict output and boost prices.
Commodities are higher across the board as the US dollar weakens, with lessened selling pressure on the back of the start of the Chinese Lunar New Year holidays an added factor in the case of base metals.
Sterling gained strength on Tuesday after UK inflation figures came out stronger than expected, while the dollar also fell against the euro and the yen.
The North Sea's Forties pipeline system that carries 40% of crude oil has begun flowing again after a short halt, the second in two months.
Sterling was little changed towards the end of the session on Tuesday, amid calm trading across currency markets, with market participants apparently completely focused on events in stockmarkets.
Commodities came under moderate selling pressure on Tuesday, even as most analysts appeared to be sanguine that the recent stockmarket rout would globally eventually wind down.
Sterling gave back yet more of its recent gains against the greenback at the start of the week, as a key gauge of service sector activity in Britain printed below forecasts, lagging behind the improvement seen in comparable gauges for the US and euro area.
Industrial metals edged lower on Friday, as a stronger-than-expected US jobs report sent the US dollar higher and weighed on prices.
Biofuels could fall out of favour as governments lean towards cleaner sources of energy and hand out less financial support, thinks Capital Economics.
The dollar rose after official figures showed earnings for US workers rising faster than expectations, fuelling expectations of interest rate rises to come.
Metals gained modestly on London Metal Exchange on Thursday, oil prices rose and gold's relationship with the dollar outweighed that with Treasury yields.
Sterling slipped back against the euro after weak manufacturing data dented confidence in the economy but the pound held on to gains against the weakening dollar.
Oil prices fell on Wednesday, as the US crude inventories rose by 6.8m barrels last week, compared with a rise of 900,000 barrels expected by analysts. This is the first build in eleven weeks.
Sterling recovered early losses against the euro on Wednesday amid concerns about the terms on which Britain will leave the EU, and the pound gained against a weakening US dollar.
Base metals edged lower on Tuesday, although the US President Donald Trump called for $1.5trn infrastructure spending in his first State of Union address.
Sterling dipped below $1.40 as political and economic uncertainty over Brexit continued to play on the minds of currency traders.
Base metals gained ahead of US President Donald Trump's first State of Union address on Tuesday.
Sterling slipped against the dollar and the euro after fresh concerns about political uncertainty in the UK and a rebuff by the EU over Britain's position during a Brexit transition period.
Three-month zinc futures on London Metal Exchange surged 3.1% to $3'584 a ton, the highest level in more than a decade, after LME inventories slumped to the lowest levels since 2008.
The US dollar edged higher after in a volatile day of trading on Thursday, as US president Donald Trump argued at Davos that remarks made during the previous day by the country's Treasury Secretary, Steve Mnuchin had been taken out of context.