Oil markets were also underpinned through the ongoing Libya unrest as it became increasingly apparent that the North African country will require longer than expected to get its crude production facilities back to pre-crisis amounts.
New York's main contract, West Texas Intermediate light sweet crude for Oct delivery rose 14 cents to $85. 30 a barrel and Brent Northern Sea crude for October delivery was 21 cents up at $110. thirty six.
"Over the coming week, crude markets will be looking for clearer information on the health of the Libyan oil and gas infrastructure, " said Sanjeev Gupta, who heads Ernst and Young's Asia-Pacific gas and oil practice.
Oil prices could drop temporarily if the crisis in the oil-rich Northern African nation eases, or if strongman Muammar Gaddafi is caught, said SEB Item Research analyst Filip Petersson.
"Bearish influences could come from Libya -- at the. g. If Gaddafi is caught -- but these are likely to be short-lived since the market is starting to realise that Libya is highly unlikely to end up being back at pre-war capacity anytime soon, " he said.
Meanwhile, investors tend to be watching out for Friday's speech by Bernanke, which will be scrutinised for signs of whether he'll support new stimulus measures to juice the sluggish economy.
The US may be the world's largest oil-consuming nation.