Home

 
India Bullion iPhone Application
  Quick Links
Currency Futures Trading

MCX Strategy

Precious Metals Trading

IBCRR

Forex Brokers

Technicals

Precious Metals Trading

Economic Data

Commodity Futures Trading

Fixes

Live Forex Charts

Charts

World Gold Prices

Reports

Forex COMEX India

Contact Us

Chat

Bullion Trading Bullion Converter
 

$ Price :

 
 

Rupee :

 
 

Price in RS :

 
 
Specification
  More Links
Forex NCDEX India

Contracts

Live Gold Prices

Price Quotes

Gold Bullion Trading

Research

Forex MCX India

Partnerships

Gold Commodities

Holidays

Forex Currency Trading

Libor

Indian Currency

Advertisement

 
RTRS:UPDATE 1-Brent oil stays above $117; U.S. debt deal eyed
 
* U.S. crude stocks up unexpectedly; gasoline demand weak -EIA

* Brent to fall to $115/bbl -technicals

* Weak econ outlook prompts ANZ to cut Q3 Brent forecast to $120 (Recasts, adds details)

By Florence Tan

SINGAPORE, July 28 (Reuters) - Brent crude held steady above $117 on Thursday as wary investors await a deal among rival U.S. lawmakers to raise the country's debt limit ahead of an Aug. 2 deadline and a storm approaches the Gulf of Mexico, threatening supply.

Brent September crude LCOc1 rose 21 cents to $117.64 a barrel by 0602 GMT, after settling down 85 cents at $117.43.

U.S. crude CLc1 for September fell for a second session, down 19 cents to $97.21 a barrel. The contract hit a 7-session low of $96.51 earlier after crude stockpiles unexpectedly rose.

Oil is unlikely to slide much further even with the economic uncertainty surrounding the U.S. and Europe as demand is expected to grow steadily amid reduced global output, analysts said. The U.S. hurricane season may also put a floor under prices over concerns of disruption in output.

"Despite the negative macroeconomic context, supply side impacts appear to be supporting prices," Natalie Robertson, an analyst at ANZ, said. "The first storms of the Atlantic hurricane season have hit the headlines, reminding the market of potential supply disruptions from an expected active hurricane season."
Source