MTECHTIPS

MTECHTIPS
Oil gained a second day in New York before a government report that may show stockpiles
dropped for the first time in 11 weeks in the U.S., the world’s biggest consumer of crude. Oil
for July delivery gained as much as 94 cents to $84.92 a barrel in electronic trading on the
New York Mercantile Exchange, and was at $84.68 at 11:20 a.m. Singapore time. The
contract yesterday rose 0.9 percent to $83.98, the highest close since May 31. Prices are 14
percent lower this year. Brent oil for July settlement increased 46 cents, or 0.5 percent, to
$99.31 a barrel on the London-based ICE Futures Europe exchange. The European
benchmark contract’s premium to West Texas Intermediate was at $14.65, from $14.87
yesterday.
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