Oil steady, investors brace for further crude draw

(Reuters) - U.S. crude eased 16 cents to $76.67 a barrel by 0201 GMT, adding to Monday's 19-cent decline after a day of volatile trade that saw prices swing between $76.05 to $77.33.




But after a seven-week, $12 rally fuelled by U.S. refinery troubles, a spurt of renewed fund investment and OPEC's adherence to supply curbs, prices remain within shouting distance of last July's all-time high $78.40 a barrel.


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Bonds fall on mortgage selling, oil's surge

(Reuters) - Treasuries gave up the gains that resulted from Asian buying and benign comments on inflation by Chicago Federal Reserve President Michael Moskow as bids were awarded for the $4 billion sale of mortgage bonds by a Bear Stearns hedge fund, analysts said.




Bonds also were hurt by a surge in U.S. crude oil futures to a nine-month high, which added to lingering inflation worries.


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Oil slips, holds $71 as OPEC says supplies ample

(Reuters) - London Brent crude , seen as currently more representative of the global market, was down 13 cents at $71.09 a barrel at 0309 GMT, after rising 20 cents on Thursday. U.S. crude fell 12 cents to $66.81 after a 97-cent rally.




OPEC President Mohammed al-Hamli said on Thursday oil supplies were sufficient and there was no need for an emergency meeting. Consumers have been urging the group to produce more oil to lower prices.


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