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Oil slips below US $70 a barrel
Published 14.12.2009 09:00:38 by John Bradbury
Economic data from the US plus an increase in Saudi production and monetary issues helped to push the price of crude oil down below the US $70/barrel benchmark in Asian trading.In New York the main WTI contact for January delivery slipped below $70/bbl after falling 67 cents to hit US $69/87 a barrel, reports said.
Meanwhile North Sea Brent crude for January delivery managed to remain above the $70/barrel price.
During London trading Brent North Sea crude moved up two cents to hit US $71.88/bbl.
In London, Brent North Sea crude for January edged up two cents to settle at 71.88 dollars a barrel.
“ Very weak US demand, the increase in Saudi production and monetary factors,” were behind the US price shift, said one independent trader cited by the channelnewsasia website overnight.
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