Oil prices are continuing to fall on Monday morning in the wake of the Japanese earthquake as three of the country's oil refineries have been shut down, fuelling concerns about the impact on global demand.
The front month contract for Brent crude North Sea oil was last seen USD 1.53 lower at USD 112.31/bbl - USD 3 down since Thursday's close - while its WTI counterpart last traded down USD 1.28 at USD 99.88/bbl.
"Disruptions to [Japanese] refineries and their supplies will quickly eat into global demand for crude oil,” Stephen Schork of the Schork Report said.
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Montag, 14.03.2011, 08:31 Uhr
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