Brent holds above $118 on euro fears ahead of Spain auction

Times of India Thursday 19th April, 2012

Brent crude futures held above $118 on Thursday as investors remained cautious ahead of a key Spanish bond auction as renewed fears of a euro zone debt crisis kept a lid on oil demand. A higher-than-expected fourth straight week of inventory build in the United States also weighed on crude oil markets. Brent June crude gained 38 cents at $118.35 a barrel at 0254 GMT, after hitting an over 2-month low of $116.70 in the previous session. U.S. May c...

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