MTECHTIPS:- U.S. crude halts 3-day skid, as Norway strike offsets Brexit concerns

U.S. crude halted a three-day losing skid on Tuesday, amid an easing dollar, as threats of an impending worker strike in Norway offset continuing fears of a potential recession throughout the euro area in the wake of last week’s historic Brexit referendum. On the New York Mercantile Exchange, WTI crude for August delivery traded between $46.54 and $47.94 a barrel before closing at $47.86, up 1.54 or 3.36% on the session. Previously, U.S. crude futures had tumbled 7% from 10-month highs earlier this month, amid considerable downward pressure from Britain’s decision to leave the EU. A session earlier, WTI crude slid below $47 a barrel to touch near six-week lows. On the Intercontinental Exchange (ICE), brent crude for September delivery wavered between $48.01 and $49.32 a barrel, before settling at $49.23, up 1.46 or 3.06% on the day. Both the international and U.S. benchmarks of crude used a late rally in the final minutes to close near session highs. U.S. crude futures are still up more than 60% from 13-year lows in mid-February at $26.05 a barrel. Crude prices received a boost on Tuesday from news out of Norway that up to 7,500 workers in the oil and gas industry could go on strike on Saturday if a new labor deal is not reached later this week. The union workers in Norway, one of the top crude producers in the euro 

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