Daily Energy & Bullion Insight 9-Jun-2009

Ventura Securities Ltd

Crude oil for July delivery gained as much as 1.2 percent to $68.90 a barrel in New York, and gasoline futures rose as much as 0.7 percent to $1.9488 a gallon.

Crude oil gained in New York, snapping two days of losses, as most Asian stocks rose after Nobel Prize-winning economist Paul Krugman said the U.S. recession may end this year, signaling increased energy demand.

Crude oil rose slightly above $68 a barrel on forecasts that the EIA released tomorrow will show oil inventories has declined last week which provided hopes the recession is abating.

Oil prices have more than doubled since February, in line with equities and currency markets.
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