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US crude ends Q2 with biggest loss since Q4 2008

Published 06/30/2011, 02:53 PM
Updated 06/30/2011, 03:00 PM

NEW YORK, June 30 (Reuters) - U.S. crude futures ended higher on Thursday, but closed the month down 7 percent and the quarter slumping more than 10 percent, the biggest quarterly loss since the fourth quarter of 2008.

The day's trade was volatile as end-of-quarter book-squaring mingled with worries about violence in Greece and a consumer nations' plan to release government-held crude.

On the New York Mercantile Exchange, crude for August delivery rose for a third day and settled at $95.42 a barrel, gaining 65 cents or 0.69 percent, after trading from $93.88 to $95.82.

For the month, front-month crude fell $7.28, or 7.1 percent, down for a second straight month. In May, prices slumped $11.23, or 9.9 percent.

For the quarter, front-month crude skidded $11.30, or 10.6 percent. That marked the biggest quarterly loss since the last quarter of 2008, at the height of the financial crisis following the collapse of Lehman Brothers, when prices fell $56.04, or 55.7 percent. (Reporting by Gene Ramos; Editing by Dale Hudson)

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