Brent Steady Near $114/B On Hopes Over Europe, Supply Woes Support

Published on Wednesday, 17 Oct 14:50 pm

Brent futures held steady near $114/B on Tuesday as expectations that Europe’s financial crisis is on the mend. Renewed hopes of a revival in oil demand growth, while simmering tension in the Middle East provided additional support. Oil was supported by supply concerns as the European Union slapped fresh sanctions on Iran (Reuters). Brent slipped 12 cents to $113.88/B.

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