Brent oil trading near $76, US markets push prices up

Brent oil is trading higher at open on Tuesday as prices get a boost from US markets as traders followed the latest US company results. In London, Brent crude oil futures for September 2010 delivery was at $75.86, 08.00 GMT on the ICE Futures Exchange after closing at $75.62 on Monday. “Much of this week’s action on the oil market will ride on what the US equity markets do, particularly as second quarter corporate earnings kick into high gear,” said MF Global analyst Ed Meir. The US stock market closed higher on Monday amid renewed concerns the US recovery is stalling and as the company earnings season picks up steam. “Investors are confident enough to keep the markets where they are … but not excited enough to push them higher,” Sander Capital said in a report. Brent oil prices have traded between $64 and $87 so far this year and has hovered near $76 for the last two weeks amid light summer trading volume. Brent oil prices trading near $75, Euro markets turn lower Brent oil trading up 3 percent near $77, markets see boost Brent oil price trading near $74, European markets mixed Brent oil back under $78 in light trading, Euro battered Brent oil trading once again close to the $80 mark WTI oil prices firm at $76 as US dollar slides lower WTI oil trading near $76 as US stock market opens lower Brent oil trading near $76 as BP receives seven year US ban Brent oil price trading near $74 on optimistic US data Brent oil prices trading over $73 as global markets gain WTI oil trading over $73 as stock markets lift oil prices Brent oil trading back over $72 after steep decline in prices Oil prices end week’s trading session down eight percent WTI oil trading down 3 percent, near $73 on grim US data Brent oil trading under $75 as Europe markets head lower Brent oil prices trading near $80 as stock markets jump Brent oil price trading over $78 and looking bullish Brent oil price trading above $72, looks to US crude data Brent oil price sinks under $72 as the Euro looses ground Brent oil trading lower on continued euro debt concerns

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Brent oil trading near $76, US markets push prices up