Oil prices are trading flat on Tuesday morning as market optimism on improving US macroeconomic news has been offset by increased production in the Gulf of Mexico as a tropical storm threat has passed, traders said.
The front month contract for Brent North Sea crude oil was last seen USD 0.07 softer at USD 77.43/bbl, while the WTI contract on Nymex was flat at USD 78.98/bbl.
Better than expected US home sales figures - rising 24% in June - boosted market optimism, but not prices, as any gains were offset by increased oil production in the Gulf of Mexico as Tropical Storm Bonnie petered out,
Dienstag, 27.07.2010, 08:31 Uhr
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