Brent Crude Hovers At $107/B

Published on Tuesday, 29 May 11:48 am

Brent crude steadied around $107/B on Tuesday as investors weighed potential Middle East supply disruptions against a deepening debt crisis in the euro zone that is clouding the outlook for global fuel demand, reports Reuters. Spain’s plan to use public debt to revive one of its troubled banks has raised worries that it could recapitalize other weak lenders at a time when borrowing costs are already surging. Brent crude for July delivery eased 8 cents to $107.03/B, after hitting a high of $108.04/B in the previous session, while US crude oil futures gained 33 cents to $91.19/B. 

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