Oil price hovers near $60 per
barrel on supply shortfall concerns
NEW YORK -- Crude oil prices declined modestly on Tuesday after a four-day record setting rally, but remained near the $60 per barrel mark on concerns related to supply shortfall risks. The US light crude futures contract price for July delivery declined to $59.00 per barrel in morning trade on the New York Mercantile Exchange (NYMEX) on Tuesday, after rising to a record intraday high of $59.52 per barrel on Monday. The July delivery contract is scheduled to expire later on Tuesday. The NYMEX crude price closed at a record high of $59.37 per barrel on Monday. Meanwhile, the US crude price for December delivery is currently at above the $60 per barrel mark, after rising to an all-time high of $61 per barrel on Monday.
Posted by Editor at June 21, 2005 05:18 PM
