Crude oil futures extended gains as euro stocks continue to surge

28 May 2013 15:04  [Source: ICIS news]

LONDON (ICIS)--Crude oil futures extended gains on Tuesday amid surging European stock markets.

By 13:30 GMT, the front-month July ICE Brent contract had risen steeply to $104.69/bbl, a gain of $2.07/bbl compared with the previous settlement. The contract then edged lower to trade around $104.55/bbl.

At the same time, the front-month July NYMEX WTI contract was trading around $95.75/bbl, having touched an intra-day high earlier at $95.92/bbl, a gain of $1.77/bbl compared with the previous settlement.

Crude oil futures continued to make gains on Tuesday, attributed to a rise in seen in stock markets around the globe. Stock markets in the Asia-Pacific region mostly settled in positive territory on Tuesday and European stocks have made substantial gains during the day's trade.

By: Kawai Wong
+44 20 8652 3214

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