Tuesday, 7 February 2012

Crude Lingers Near 2-month Low On Greek Worries

 The price of crude oil was little changed in Asian session Tuesday as traders concerned over demand situation and focus on developments in Greece.
Light Sweet Crude Oil (WTI) futures for March delivery, edged up $0.02 to $96.93 a barrel. Yesterday, oil ended at a 2-month low on a strong dollar and continued worries about the stalemate in Greece over its sovereign debt problems.
The American Petroleum Institute announces its weekly supply data later Tuesday while the Energy Department's Energy Information Administration reports its figures Wednesday. Analysts expect crude oil inventories to rise by 2.30 million barrels in the weekended February 03.

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