Thursday, October 18, 2012

Crude slips in Asia on US energy demand concerns

Oil fell in Asia on Thursday on demand concerns after US data showed a sharper-than-expected rise in crude inventories in the past week, analysts said.

New York's main contract, light sweet crude for delivery in November shed 10 cents to $92.02 a barrel and Brent North Sea crude for December delivery retreated two cents to $113.20.
A larger-than-expected gain in US crude stockpiles raised demand concerns among traders, said Sanjeev Gupta, who heads the Asia-Pacific oil and gas practice at Ernst & Young.

Read more: Business Recorder


Post a Comment

Twitter Delicious Facebook Digg Stumbleupon Favorites More

Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | Web Hosting Bluehost