CRUDE EXTEND ITS GAINING STREAK ON TUESDAY
DATE: 18/07/2012
Crude prices rallied
on Tuesday to end higher for the fifth consecutive day after Federal Reserve
Chairman Ben Bernanke didn't made any clear hint at further quantitative easing
but left the door open for more monetary stimulus if needed. The dollar also
traded lower against a basket of major currencies following the Bernanke
testimony and tensions over Iran's disputed nuclear program supported the crude
prices.
Benchmark crude for August delivery, gained $0.79 or 0.9 percent to close at $89.22 a barrel after trading in a range of $87.41 to $89.46 on the New York Mercantile Exchange. In London, Brent front-month September crude rose 63 cents, or 0.61 percent, to settle at $104 a barrel.
Benchmark crude for August delivery, gained $0.79 or 0.9 percent to close at $89.22 a barrel after trading in a range of $87.41 to $89.46 on the New York Mercantile Exchange. In London, Brent front-month September crude rose 63 cents, or 0.61 percent, to settle at $104 a barrel.
POWERED BY: COMMODITY INSIGHTS
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