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Crude Oil Snaps Tuesday Session With Marginal Gains (27-Jun-2012)

Indian-Commodity  :  Commodity-Market >> Crude Oil  :  Crude Oil Snaps Tuesday Session With Marginal Gains
Crude Oil Snaps Tuesday Session With Marginal Gains
Crude oil prices snapped Tuesday's session with marginal gains as investors at large remained on the sidelines ahead of an upcoming Euro-Zone Summit amid expectations of a long lasting solution for the region's onerous debt crisis. However, the Brent crude rallied sharply by over two percent in the session amid supply side concerns due to a strike in Norway and the impending Europe Union embargo on Iranian crude-oil imports while renewed tensions between Syria and Turkey too supported the oil prices.

Benchmark crude for August delivery rose $0.15 or 0.2% to settle at $79.36 a barrel on the New York Mercantile Exchange. In London, the August delivery Brent crude surged $2.01 or 2.2% to close at $93.17 a barrel, after trading as high as $93.17 a barrel on the ICE.
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