Oil surges to $60.62/bl

Crude oil prices in the international market flared up on Tuesday, with the Nymex U.S. light crude oil for August delivery soaring $1.70 to settle at $60.62 a barrel. The London Brent crude moved up $1.40 to $58.82 per barrel.

The commodity segment saw the Comex gold dip 80 cents to close at $427.10 an ounce.