World crude oil prices recovered Tuesday after the Monday's plunge
World crude oil prices rallied Tuesday after the Monday's plunge, on the eve of U.S. weekly energy stocks report.
New York's main contract, light sweet crude for delivery in June, rose 12 cents to close at 69.53 dollars a barrel on the Nymex.
On London's ICE Futures exchange, Brent crude for June delivery added 67 cents to settle at 70.34 dollars a barrel.
New York price dived 2.63 dollars and Brent had closed down 2.65 dollars Monday, as traders expected the demand of oil may decrease amid inflation and interest rates hikes.
Traders are still concerned about the possibilities that Iran'soil exports would halt if the United Nations imposes an international sanction on Teheran for its nuclear activities.