Crude oil dipped slightly in Asian trade, today, as Greece's credit standing suffered another knock, which offset positive European industrial production numbers. New York's main futures contract, light sweet crude for delivery in July slid 7 cents, to 75.05 dollars a barrel. Brent North Sea crude for July delivery eased one cent, to 75.19 dollars a barrel. But analysts said that Moody's downgrade of the Greek government's credit ratings to junk, was not really surprising. And that stronger-than-expected numbers for industrial production released by the European Union yesterday would keep oil prices above 75 dollars.Eurozone industrial output jumped 0.8 per cent in April from March, nearly double the gain expected by analysts.
News On AIR | June 15, 2010 6:13 PM
Crude oil softens in Asian trade