US crude falls over $1/bbl on economic woes

15 July 2008 15:43  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures fell by more than $1/bbl on Tuesday to take the front month August contract below $144/bbl on the back of concerns that a slowdown in the global economy could reduce demand.

 

By 14:30 GMT, August NYMEX crude had hit a low of $143.40/bbl, a loss of $1.78/bbl from the Monday close of $145.18/bbl, before recovering to around $144.55/bbl.

 

At the same time, August Brent crude on London’s ICE Futures was trading around $143.60/bbl, having hit a low of $143.43/bbl, a loss of $0.49/bbl from the previous close.

 

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By: Tony Dillon
+44 20 8652 3214

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