CP Update: Crude Oil

Crude oil futures have made a slightly soft start after a good surge in last session to the one week high. The prices were fluctuating between gains and losses on concern about the Middle East, as Syrian government forces started an offensive against rebels. Meanwhile, a Joint Organisations Data Initiative showed that the biggest producer in the Organization of Petroleum Exporting Countries (OPEC), Saudi Arabia, shipped 7.42 million barrels a day, down 30,000 barrels from February.

Benchmark crude oil futures for June delivery was at $95.95 a barrel, down 7 cents, in electronic trading on the New York Mercantile Exchange. In London, Brent crude for July settlement climbed 2 cents to $104.66 a barrel on the ICE

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