08 October 2012 10:35 [Source: ICIS news]
SINGAPORE (ICIS)--Crude futures fell by more than $1/bbl on Monday, undermined by a stronger US dollar and continued concerns over the impact of the weak global economy on oil demand.
At 09:06 GMT, November Brent crude on ?xml:namespace>
November NYMEX light sweet crude futures (WTI) were trading at $88.78/bbl, down by $1.10/bbl from the previous close. Earlier, the
The US dollar strengthened against leading currencies, making dollar-denominated commodities, like crude, less attractive to international investors.
On Monday, the World Bank lowered its 2012 growth forecast for
The World Bank does not expect
The health of eurozone economies, in particular, those of the debt-laden nations of
A new eurozone rescue fund – the European Stability Mechanism (ESM) – is set to be launched at a meeting of the EU finance ministers later on Monday.
Meanwhile, heightened tensions in the Middle East generated by the
($1 = €0.77)
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