09 April 2012 04:22 [Source: ICIS news]
SINGAPORE (ICIS)--Oil prices fell by more than $1/bbl in early Asian trade on Monday following news that talks between ?xml:namespace>
Poor economic data from the
At 02:43 GMT, May Brent crude on
Oil markets were closed on 6 April because of Good Friday.
May NYMEX light sweet crude futures (WTI) were trading at $102.12/bbl, down $1.19/bbl from the previous settlement on Thursday. Earlier, the
News reports citing Iranian media on Sunday said that talks over the country’s disputed nuclear programme were set to begin later this week.
The countries involved in the talks include the
Crude values have surged this year amid ongoing supply worries generated by heightened tensions between the West and
Brent prices have surged by nearly $20/bbl this year to touch a high of $128.40/bbl in April.
Oil prices were also weighed by a US Labor Department report on 6 April which showed weaker than expected jobs growth last month, raising concerns on the overall recovery of the
US non-farm payrolls slowed to 120,000 in March this year, the smallest increase since October 2011.
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