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.