Monday, 16 July 2007

Oil steadies, US refinery restarts may lift stocks

(Reuters) - Oil prices were little changed on Tuesday, hovering within sight of record highs even after a sharp fall in U.S. fuel prices triggered by signs that recovering refinery operations will boost inventories.

London Brent crude for September delivery, the new front-month contract, was down 3 cents to $76.26 a barrel by 0336 GMT. The August contract ended 25 cents lower on Monday after briefly rising as high as $78.40, just shy of its record at $78.65.


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