NYMEX-Crude steady; eyes Egypt, Greece creditors meet

SINGAPORE Mon Nov 26, 2012 6:03am IST

SINGAPORE Nov 26 (Reuters) - U.S. crude futures were steady on Monday, as escalating violent protests in Egypt renewed supply concerns, while Greece edged closer to securing another aid installment.

FUNDAMENTALS

* U.S. crude for January delivery eased 16 cents to $88.12 a barrel by 2335 GMT. It had settled at $88.28 a barrel in the previous session.

* Brent crude was down 9 cents at $111.29.

* Egyptian President Mohamed Mursi will meet senior judges on Monday to try to ease a crisis over his seizure of new powers which has set off violent protests reminiscent of last year's revolution which brought him to power.

* A write-down on Greek debt should not be part of the country's next rescue package, European Central Bank board member Joerg Asmussen told Germany's Bild newspaper ahead of Monday's euro zone group meeting.

* European authorities will transfer 35 billion euros to Spain's state bank rescue fund on Dec. 15 in exchange for massive layoffs at Spain's four nationalised banks, including state-rescued Bankia, El Pais newspaper reported on Sunday.

* Hezbollah leader Sayyed Hassan Nasrallah warned Israel on Sunday that thousands of rockets would rain down on Tel Aviv and cities across the Jewish state if it attacked Lebanon.

MARKETS NEWS

The euro started the week near one-month highs against the dollar, having staged an impressive rally on hopes that Greece will finally secure more emergency loans to keep it afloat.

DATA/EVENTS (GMT)

0900 Italy Consumer confidence Nov

1200 Germany GfK Consumer sentiment Dec

1530 U.S. Dallas Fed Texas manufacturing Nov (Reporting by Luke Pachymuthu; Editing by Richard Pullin)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Kerry in India

REUTERS SHOWCASE

Deadly Landslide

Deadly Landslide

Landslide near Pune kills 10, scores feared trapped.  Full Article 

Fed Policy

Fed Policy

Fed presses forward with bond buying, cites uptick in inflation.  Full Article 

Big Infra Deal

Big Infra Deal

Piramal, Dutch APG tie up for $1 bln infra investment  Full Article 

E-Commerce

E-Commerce

Amazon says to invest $2 billion more in India   Full Article 

Lupin Results

Lupin Results

Q1 net profit up 56 percent on higher U.S. drug sales   Full Article 

Smuggling Gold

Smuggling Gold

Air India staff found smuggling gold  Full Article 

Economy Reboots

Economy Reboots

U.S. economy back on track with strong second-quarter rebound .  Full Article 

Auto Sector

Auto Sector

VW closes in on Toyota as global auto leader  Full Article 

Expanding Reach

Expanding Reach

Tata to invest $35 bln over 3 years, focus on new businesses   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage