The European debt crisis continues to offset bullish factors such as tight supply, strong distillate demand and geopolitical tensions over Iran, one analyst said on Monday.
The front month Brent crude oil contract last traded at USD 102.62/bbl, down USD 0.73 on Friday's close, on the Ice exchange, while on Nymex, the January WTI contract was last seen USD 0.60 lower at USD 92.93/bbl. "In the bigger picture, macro-economic worries continue to weigh on prices with concerns what the euro crisis will mean for global oil demand,” Michal Creed, analyst at B
Montag, 19.12.2011, 09:05 Uhr
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