Brent crude oil steadies above $60 after sharp Monday fall

Brent crude futures rose above $60 a barrel on Tuesday, after a sharp drop in the previous session on record US stocks, as firm Asian markets supported prices.



Most Asian stock markets edged up, bolstered by another record day on Wall Street, while a resurgent yen helped knock the US dollar index off an 11-year high, making commodities priced in the greenback cheaper for holders of other currencies.



Front-month Brent futures were trading at $60.40 a barrel at 0430 GMT, up 86 cents from their settlement. US WTI futures were up 35 cents at $49.94 a barrel.



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Posted in: Indian Market Tips