Thursday, July 26, 2007

Oil holds firm above $75, eyes tight global supply

(Reuters) - London Brent crude gained 41 cents to $75.59 a barrel by 0340 GMT, after ending $1.14 lower on Thursday. U.S. crude rose 43 cents to $75.38, after a loss of 93 cents the previous day, when it rallied more than $1 midsession to trade at a premium to Brent.




Traders saw an opportunity to buy after Thursday's dip, felt across commodity markets, which came as weak U.S. housing data revived worries about the economy of the world's biggest oil consumer and sparked a flight from risky assets.


Read more at Reuters.com Hot Stocks News

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