Oil Market Update : Epic Research Singapore

Oil futures on Tuesday ended the first half of the year with a hefty gain, settling higher for the session with the deadline for a final agreement over Iran’s nuclear program extended by a week.

On the New York Mercantile Exchange, August West Texas Intermediate crude CLQ5, -1.19%  tacked on $1.14, or 2%, to settle at $59.47 a barrel. It had tallied a four-session loss of more than 4%. Tracking the most-active contracts, prices were up roughly 11.6% year to date. For the month, prices saw a loss of about 1.4%.

Brent crude for August delivery LCOQ5, -0.99%  rose $1.58, or 2.6%, to $63.59 a barrel on London’s ICE Futures exchange. Prices were close to 11% higher year to date.
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