| Kippreport.com

U.S. crude rebounds on fed, Greece optimism

June 20, 2012 3:00 by Reuters

U.S. crude futures rebounded on Tuesday as investors bet that Federal Reserve policymakers, who are holding a two-day meeting, will agree to provide further stimulus to the sluggish economy and that inventory data will show a crude stock draw.

Hopes that Greece will shortly form a coalition government and that it will be able to renegotiate its bailout package with lenders added to positive sentiment.

NYMEX crude for July delivery settled at $84.03 a barrel, up 76 cents, or 0.91 percent, after trading between$82.28 and $84.41.

(Reporting By Gene Ramos; Editing by Bob Burgdorfer)

Tags: crude, Energy, Federal reserve policymakers, Greece, markets