{"id":11143,"date":"2010-06-15T16:29:44","date_gmt":"2010-06-15T14:29:44","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11143\/brent-oil-price-trading-near-76-mark-on-higher-euro\/"},"modified":"2010-06-15T16:29:44","modified_gmt":"2010-06-15T14:29:44","slug":"brent-oil-price-trading-near-76-mark-on-higher-euro","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11143\/brent-oil-price-trading-near-76-mark-on-higher-euro\/","title":{"rendered":"Brent oil price trading near $76 mark on higher Euro"},"content":{"rendered":"

Brent oil prices are trading up near the $76 mark on Tuesday afternoon as a stronger Euro and boosting the appeal of buying commodities including crude oil.<\/p>\n

In London, Brent crude oil futures for July delivery climbed 1.2 percent to $76.09 a barrel on the Futures Europe Exchange.<\/p>\n

The euro strengthened to $1.2275, up 0.4 percent from $1.2221 yesterday. The currency touched $1.1877 on June 7, the lowest level since March 2006, on concern that the debt crisis in Greece will spread to other countries in the region.<\/p>\n

“The euro continued to add to its recovery rally as risk flows proved positive,” said Boris Schlossberg, director of currency research at GFT.<\/p>\n

Oil traders could further reverse short bets that the euro would fall more “on the assumption that the euro-zone economy may be stabilizing and the risk of fragmentation for the 16 member union is beginning to dissipate,” he said.<\/p>\n

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