Oil prices recovered from multi-month lows in Asian trade today as concerns over Middle-East supply resurfaced. Oil was also supported by Group of Eight leaders, signaling they would look at promoting growth along with austerity measures as a way out of the eurozone's deep debt troubles.New York's main contract West Texas Intermediate crude for delivery in June was up 43 cents to 91.91 dollars per barrel while Brent North Sea crude for July gained 65 cents to 107.79 dollars in morning trade.
News On AIR | May 21, 2012 11:22 AM
G8 backing triggers oil recovery