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    Oil Prices Slip After Rally As Market Turns Cautious

    (June 21 Reuters) Oil prices fell on Tuesday after a strong two-day rally abated amid volatility fed in part by a vote later this week in Britain that will determine whether the country will leave the European Union.

    Reports from Nigerian media that the government had signed a 30-day ceasefire with militants whose attacks have curtailed the country's crude oil exports also added a bearish signal to a market that firmed on the back of supply disruptions.

    Brent crude August futures LCoct1 were trading at $50.23 at 0918 GMT, down 42 cents a barrel. The contract has risen by more than 6 percent since Thursday's settlement, after dropping 10 percent in six previous session.

    U.S. crude's expiring July front-month contract CLN6 was down 45 cents at $48.92 a barrel. The more actively traded August contract CLQ6, the new front-month from Wednesday, was down 40 cents at $49.56. The contract settled up nearly 3 percent at $49.96 on Monday.

    Click on the link below to see the full story from Reuters: (by Libby George)

    Oil prices slip after rally as market turns cautious

     

     

     


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