Tuesday, 28 May 2013

MTECHTIPS;-CRUDE OIL U.S. crude oil futures steadied in early deals on Wednesday

MTECHTIPS;-CRUDE OIL

U.S. crude oil futures steadied in early deals on Wednesday, clinging to most of its gains from the 
prior session when upbeat housing and consumer confidence data buoyed the outlook for demand 
from world's top oil user. U.S. crude for July delivery stood at $94.72 a barrel. Brent crude was at 
$104.15 a barrel. The upbeat U.S. data also helped counter recent negative sentiment spurred by 
indications of softer Chinese growth. Outlook : Rising tensions regarding Syria and the raising of 
the arms embargo are bound to offer some support for the commodity.
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