Oil hits new high as supply worries resurface

摘要

The front-month crude contract on the New York Mercantile Exchange settled June 17 at an all-time high of US58.47/bbl,a gain of US1.89/bbl,bolstered by the threat of a Norwegian oil union strike.The July crude contract rallied to a front-month all-time high of US58.60/bbl,while the October contract broke through US60/bbl.The market easily broke above resistance levels as funds continued to rotate onto the long side.