Oil prices lower in Asia on demand worries
World oil prices continued lower in Asia Tuesday on deepening worries about a potential drop in energy demand owing to weakness in the US economy, analysts said.
By Agencies |
SINGAPORE: World oil prices continued lower in Asia Tuesday on deepening worries about a potential drop in energy demand owing to weakness in the US economy, analysts said.
In morning trade, New York's main contract, light sweet crude for February delivery, shed $2.44 to $88.13 per barrel.
The contract slid $1.76 to $88.81 per barrel in electronic deals Monday while floor trading on the New York Mercantile Exchange was closed for the Martin Luther King holiday.
London's Brent North Sea crude for March delivery slumped by $1.46 to close at $87.77 a barrel on Monday.
Prices have eased since striking records in New York of $100.09 per barrel and $98.50 in London in early January.
In morning trade, New York's main contract, light sweet crude for February delivery, shed $2.44 to $88.13 per barrel.
The contract slid $1.76 to $88.81 per barrel in electronic deals Monday while floor trading on the New York Mercantile Exchange was closed for the Martin Luther King holiday.
London's Brent North Sea crude for March delivery slumped by $1.46 to close at $87.77 a barrel on Monday.
Prices have eased since striking records in New York of $100.09 per barrel and $98.50 in London in early January.
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