Daily Energy & Bullion Insight 12-Jun-2009

Research report by 'Ventura Securities Ltd'
     
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Benchmark crude for July delivery fell 62 cents to $72.06 a barrel by late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.

An improving crude demand outlook helped bolster prices.

Oil prices slid toward $72 a barrel on Friday, as investors locked in gains from a near eight-month high settlement a day ago, but stronger-than-expected China factory output and retail sales data lent support.

Hopes of an economic recovery had boosted oil to its high on Thursday, and official data showing a rebound in China's industrial growth and retail sales in May added to the positive economic picture.

   
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