Oil prices are softening further on Monday as concerns about a weak fundamental picture continue to weigh on prices, said analysts.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 59.90/bbl, down 62 cents on the previous close.
On Friday, the same contract closed at USD 60.52/bbl, down 58 cents day on day.
There was a bearish outlook for prices in the short term, said Harry Tchilinguirian, senior analyst at French bank BNP Paribas.
"Oil demand
Montag, 13.07.2009, 08:05 Uhr
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