3:56 pm - Saturday May 25, 2013

Brent up on day, ends Q2 with biggest dip since ’08

Brent up on day, ends Q2 with biggest dip since 08 crudeoilmarketnews 013 559x480 300x257 NEW YORK, June 29 (Reuters) – futures jumped more than 7 percent on Friday, the biggest one-day percentage gain since April 2, 2009, after European leaders acted to aid troubled banks and preserve the single currency.

 In London, August Brent crude settled at $97.80 a barrel, gaining $6.44, or 7.05 percent, after trading between $91.73 and $98.29. For June, front-month Brent fell $4.07, or 4 percent.

 For the quarter, front-month Brent dropped $25.08 a barrel, or 20.4 percent, the biggest quarterly percentage loss since the last quarter of 2008, when Brent fell 53.6 percent. (Reporting by Gene Ramos; Editing by Dale Hudson)

Source: Brent up on day, ends Q2 with biggest dip since 08

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