Oil prices hovered around $61.50 a barrel Tuesday as a surprising increase in consumer confidence sent stock prices higher.
Benchmark crude for July delivery lost 16 cents at $61.51 on the New York Mercantile Exchange.
In London, Brent prices rose 28 cents to $60.49 a barrel on the ICE Futures exchange.
Prices had fallen back below $60 Tuesday until a private research group reported that consumer confidence in May soared to the highest level since last September amid tentative signs that the economy is improving. The Conference Board said its Consumer Confidence Index, which had dramatically increased in April, zoomed past economists' …
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