For Quick Alerts
For Daily Alerts

Crude Oil Steady After Monday's Sell Off


Crude oil prices stabilized after a sharp fall seen on Monday on fears that Greece would exit the Eurozone. Brent Crude which had fallen as much as 5 per cent on Monday was marginally up by 1 dollar at 57 dollars a barrel.

Crude Oil Steady After Monday's Sell Off
Traders say that crude oil may continue to see pressure in the near term the possibility of it rising over $70 per barrel is ruled out, given the likely supply from Iran in 2016.

Also, there is unlikely to be any robust demand from across the globe and Chinese demand sentiments is also likely to weigh on prices.

A fall in Brent crude is good news for countries like India, which heavily import crude oil.

Read more about: crude oil
Story first published: Tuesday, July 7, 2015, 11:35 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more