Oil prices recover in Asia Thursday, but
gains profit was capped as the euro was strike by fresh covers over
Greece, further hurting desired in the face of an oversupply.
US benchmark West Texas Intermediate
for March delivery increased 42 cents to $48.87 while Brent crude for
March gained a profit of 71 cents to $54.87 in trade. Crude
prices on Wednesday broke a three day rally, with WTI is sliding 8.7 %
owing to mounting stockpiles.
On Thursday's recoiled was
unlikely to be supported after the single currency retreated on news
that the European Central Bank had cut off Greek banks' access to a
key source of much required cash.
Crude has off track more than half its
value since June, when prices were at more than $100 a barrel.
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