Tuesday, May 20, 2014

Epic Research Singapore : Comex Market Update

Oil futures on Monday extended their gains from last week as turmoil in Ukraine and Libya fueled worries about potential disruptions to global crude supplies, prompting prices to briefly top $103 a barrel.

Crude oil for June delivery CLM4 +0.12%   rose 59 cents, or 0.6%, to settle at $102.61 a barrel on the New York Mercantile Exchange after the contract earlier breached the $103 level. The June contract expires at the close of trading on Tuesday.

July Brent crude UK:LCON4 +0.12%  , the European benchmark, reversed from earlier gains to settle 38 cents, or 0.4%, lower at $109.37 a barrel on the ICE Futures exchange.

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