LONDON: Copper extended gains on Monday as investors saw value in a metal that fell to four-month lows last week, even as they remained concerned about the risk of contagion if Greece defaults on its debt and leaves the euro. Leaders of G8 major industrialised nations meeting at the weekend vowed to take steps to combat financial turmoil and revitalise a global economy threatened by Europe's debt crisis, but they offered no specific prescription for debt-crippled Greece which is to hold elections on June 17. Recent opinion polls show Greek voters are returning to the establishment parties that negotiated its bailout, offering potential salvation for European leaders. But deepening banking sector instability in Spain heightened concerns about contagion from Greece's political turmoil, meaning investors will likely stay risk-averse at least until the Greek election. Three-month copper on the London Metal Exchange was traded up more than 1 percent at $7,745.50 a tonne in official ...

LONDON: Oil crept higher Monday, rebounding from last week's multi-month lows on speculative buying and as concerns resurfaced over supplies from the crude-rich Middle East, particularly from Iran. The market was also supported by Group of Eight (G8) leaders calling for Greece to stay in the eurozone at a weekend summit in the United States as they debated deep divisions about how best to tackle Europe's fiscal woes. Brent North Sea crude for delivery in July advanced 26 cents to $107.40 per barrel in late morning deals. New York's main contract, West Texas Intermediate (WTI) crude for delivery in June increased by 30 cents to $91.78 a barrel. Crude futures had slumped last week as the market was rattled by concern about the weak demand outlook arising from the eurozone crisis. Before the weekend, Brent crude struck $106.40 on Friday, touching the lowest point since late December. New York's light sweet crude sank to $91.60, ...

LONDON: Libya's National Oil Corporation (NOC) said on Thursday it has lowered the June official selling price (OSP) on its key export crude Es Sider, down 15 cents from May. The Es Sider OSP was set at dated Brent plus 85 cents per barrel for June, down from the May price of dated Brent plus $1.00 per barrel. The prices on El Sharara and Mellitah were dropped 15 cents to dated Brent plus $1.15 and plus 50 cents a barrel, respectively. Copyright Reuters, 2012 ...