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Crude trades above US$60 a barrel - ASHARQ AL-AWSAT English Archive
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Singapore, June 28, SPA — Crude oil futures held above US$60 a

barrel Tuesday on supply fears, The Associated Press reported.

A prolonged refinery outage in Texas added to worries that

oil supplies won”t meet demand, especially given America”s huge appetite for crude, which showed no signs of slowing.

Mid-afternoon in Singapore, front-month August crude on the New York Mercantile Exchange was trading at US$60.12 a barrel, down 42 cents.

The contract flirted with the US$61 a barrel mark before settling at US$60.54, a gain of 70 cents. It was the third straight day of record closing prices.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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