Crude oil futures extend the gaining streak and ended higher for the fourth straight session on Tuesday. Though, traders remained concerned about OPEC’s ability to co-ordinate effectively its supply quota plan. Nigeria and Libya, which are exempt from the OPEC-led cuts, have also raised production. Brent was supported by a forecast for weather related weekly decline in US crude supplies despite ongoing expectation of rise in US crude output. Meanwhile, the American Petroleum Institute was due to release stockpile data for the latest week later in the session.Benchmark crude oil futures for July delivery ended up by $0.86 or 2 percent to $44.24 on the New York Mercantile Exchange. In London, Brent crude for July delivery ended up by 1.8 percent to $46.65 on the ICE. For More Information About Commodity Trading Tips Please Visit : www.paceresearchindia.com and Call : 8817774774
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