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ICE Brent oil price trading higher after hitting $75 mark
Published on July 8, 2010 by oilprices · No CommentsBrent oil prices continue a slow ascent higher on Thursday afternoon after hitting the $75 mark earlier, while European stock markets advanced.
In London, Brent crude oil futures for August 2010 delivery was at $74.40 a barrel at 17.30 GMT on the ICE Futures Exchange after opening this morning’s session at $74.10.
Meanwhile, stock markets were given a boost today after the IMF said the world economy was recovering faster than expected, but is warning the debt crisis in Europe could undermine growth.
The IMF stated that European governments struggling with massive national debt could create financial instability by applying austerity measures too fast.
This week is turning out to be a difficult one to call for oil prices as mixed reports and data from Europe and the US are having a rollercoaster effect on commodities and stock markets alike.
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