India, June 3 -- After moving sharply higher in the previous session, the price of crude oil has shown another strong move to the upside during trading on Tuesday.
Crude for July delivery jumped $0.89 or 1.4 percent to $63.41 a barrel after surging $1.73 or 2.9 percent to $62.52 a barrel during Monday's trading.
The continued increase by the price of crude oil came amid ongoing concerns about supply due to escalating geopolitical tensions and stuttering U.S.-Iran nuclear talks.
Wildfires in Canada's energy heartland of Alberta have shut down almost 350,000 barrels of daily heavy crude production - about 7 percent of the country's output.
Cenovus Energy Inc., MEG Energy Corp. and Canadian Natural Resources Ltd. are among the companies th...