Brent oil futures hover at $86, Greece bailout ongoing

Brent crude oil futures are hovering around the $86 mark in early trading in the market on Thursday as ongoing talks relating to the Greece bailout continue.

Prices: Brent crude oil futures on London’s ICE Futures exchange was at $86.07 a barrel at 07.00 GMT.

The EUR/USD exchange rate hit a low of 1.3184 in Asian trade and there are continuing worries over whether Germany will approve aid to Greece ahead of a critical late May 2010 deadline.

The euro zone and its partners are determined to help stabilise Greece, and restructuring its debt is out of the question, French Budget Minister Francois Baroin said on Thursday.

“There is no doubt over the determination of the euro zone, of the European Central Bank, the IMF and the European Union to ensure the stability of Greece and therefore the stability of our currency,” he told RTL radio.

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