The ICE Brent front month oil broke a key support level on Thursday when it dropped below USD 60/bbl.
The ICE traded North Sea crude oil lost USD 4.44 day on day to settle at USD 57.43/bbl on Thursday. Volatility was yet again high as the December delivery traded in an USD 62.00-56.44/bbl intraday range.Analysts attributed the bearish moves to falling demand and fears of an economic slowdown. Chinese and other Asian-based refineries had cut their demand for crude, said Rob Montefusco, an
Freitag, 7.11.2008, 08:03 Uhr
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