Crude prices mixed in Asia

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FE Team | Published: July 22, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

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SINGAPORE, July 21 (AFP): Crude prices were mixed in Asian trade today as dealers await the outcome of eurozone crisis talks aimed at preventing a Greek financial meltdown, analysts said. New York's main contract, West Texas Intermediate (WTI) light, sweet crude for September delivery, rose three cents to $98.43 a barrel and Brent North Sea crude for delivery in September was down 36 cents to $117.79. Leaders of eurozone countries were preparing for an emergency summit Thursday to discuss ways to avert a default by debt-ridden Greece and prevent the crisis from spreading to Italy and Spain. Sentiment has been lifted by news that Germany and France have agreed a "joint position" concerning a rescue package. Disagreement between the two would have made a bailout deal almost impossible. Traders are also upbeat that the US is nearing a political resolution to slashing its budget deficit, said Sanjeev Gupta, who heads Ernst & Young's Asia-Pacific oil and gas practice in Singapore.