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NYMEX-Crude steady near $98 ahead of U.S. stock data
Release Time:2012-5-8
     U.S. crude futures were barely changed in early trade on Tuesday, supported by steady financial markets after European election results sparked concerns on the region's debt crisis, and with oil investors awaiting U.S. crude inventory data.


* On the New York Mercantile Exchange, June crude climbed 1 cents at $97.95 a barrel as of 0002 GMT after settling down 55 cents at $97.94 a barrel.
* Brent June crude was up 20 cents at $113.36 versus its settlement at $113.16 a barrel.
* The weekly inventory report from industry group American Petroleum Institute is due late on Tuesday.
* Raising OPEC's output target is not on the exporting group's agenda for now but probably will be, Algerian Energy and Mines Minister Youcef Yousfi said. OPEC is scheduled to meet next on June 14 in Vienna.
* Greece might run out of cash by end-June if it does not have a government in place to negotiate a next aid tranche with the EU and the IMF and projected state revenues fall short, three finance ministry officials told Reuters on Monday.


* Investors brushed off Europe's election results, as Japan's benchmark Nikkei average opened up 0.78 percent at 9,190.50 on Tuesday.
* The S&P 500 rebounded from early losses to end nearly unchanged, despite the uncertainty surrounding the euro zone's ability to tackle its debt crisis.
* The euro slid across the board after the outcome of elections in Greece and France cast doubt on the political will and commitment to austerity plans regarded as key to tackling the euro zone debt crisis. Technical support helped pare losses during New York trade.
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