The movement of global oil markets in July witnessed a significant increase in the oil prices compared to that in June, with an average price of US crude oil in the New York Stock Exchange at $87.96 a barrel, a rise of $5.38 compared to the trading in June. MCX Tips
Global crude oil prices in July gained owing to fears of disruption in Norwegian oil production after the failure of talks with trade unions. Recent problems in the North Sea supplies and continued concerns over Iran, in addition to heightened tensions in the Middle East have been instrumental in creating a bullish trend.
This post has been edited by BullionMCX.Com: Aug 9 2012, 12:28 PM