Crude down over $2/bbl on slowing demand worries

03 September 2008 11:08  [Source: ICIS news]

LONDON (ICIS news)--Crude prices fell by more than $2.00/bbl on Wednesday to take Brent crude on ICE Futures to below $107.00/bbl over concerns about slowing global demand and the diminished threat of Hurricane Gustav.


By 9.45 GMT, October Brent crude had hit a low of $106.17/bbl, a loss of $2.17 from the Tuesday close of $108.34, before recovering to around $106.85.


At the same time, October NYMEX light sweet crude futures was trading around $108.10/bbl, having hit a low of $107.32, a loss of $2.39 from the previous close.

By: Tony Dillon
+44 20 8652 3214

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