Monday, June 11, 2007

Oil inches up after slide as supply worries remain

(Reuters) - Oil prices edged higher on Monday, as dealers saw a buying opportunity after a sharp slide, with OPEC producers maintaining supply curbs and worries remaining over U.S. summer gasoline supplies.

London Brent crude, seen as currently more representative of the global market, rose 19 cents to $68.79 a barrel at 0412 GMT, after plunging by $2.62 on Friday amid a commodities sell-off on fears of slower economic growth. U.S. crude rose 15 cents to $64.91 after a $2.17 drop.


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