Oil falls below $72 on economic worry

Crude oil dipped on Wednesday, set to stretch its losing streak for the past six trading sessions, as global investors remained concerned that the world’s economic growth was faltering. By 0911 GMT, U.S. crude oil futures fell 10 cents to $71.88 a barrel, after touching $71.09 on Tuesday, its lowest intraday price since June 8. ICE Brent crude futures were six cents down at $71.38. Thorbjorn Bak Jensen, analyst with Global Risk Management in Denmark, said the oil market would continue to ...
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Added July 07, 2010
from Businessday Nigeria