08 June 2012 04:33 [Source: ICIS news]
SINGAPORE (ICIS)--Crude futures fell sharply on Friday, with the front month July WTI contract down by more than $2/bbl because of fresh concerns about the recovery of the ?xml:namespace>
US Federal Reserve chairman Ben Bernanke said on Thursday that the central bank will be ready to shield the economy of the world’s largest oil consumer from further financial stresses. However, he did not outline any potential stimulus measures.
The oil market has been pressured recently by the deepening eurozone debt crisis and by weak
At 02:37 GMT, the July NYMEX WTI contract was trading $2.10/bbl lower from the previous close at $82.72/bbl. The
Meanwhile, Brent crude was trading at $98.42/bbl, down by $1.51/bbl . The
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