Brent Over $102/B On Spain Rescue, Iran

Published on Tuesday, 12 Jun 09:13 am

Brent crude futures rose more than $2/B on Monday as a rescue package for Spain’s banks revived hopes of steady oil demand growth, while continuing uncertainty over Iran renewed concern over supply disruptions.  Brent rose to as much as $102.21/B and traded $2.23/B higher at $101.70/B, while US crude increased to as much as $86.64/B, and was $1.99 higher at $86.09/B, the most since 21 February.

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