Brent Slips On Greece Jitters, High US Oil Stocks

Published on Wednesday, 09 May 11:26 am

Brent crude slipped towards $112/B, on Wednesday, maintaining its downtrend for a 6th session, as political uncertainty in the debt-laden euro zone and rising oil stocks in the US revived worries about fuel demand. Brent on Tuesday posted its largest five day fall since October as Greece struggled to form a government two days after elections, raising the risk that a hard won bailout could be nullified, reports Reuters. Brent crude fell 36 cents to $112.37/B, after settling at $112.73/B on Tuesday, the lowest settlement for a four-month contract since 2 February, while US crude was at $96.66/B , down 35 cents.

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