Oil prices are falling on Friday morning amid concerns of a global economic slowdown after bearish economic data reported in the US and China on Thursday, but North African and Middle Eastern turmoil remains a cause for concern.
The front month Brent North Sea oil contract was last seen USD 0.48 lower at USD 114.95/bbl while the WTI Nymex contract was last dealt USD 0.68 lower at USD 102.03/bbl.
Chinese economic data surprised to the downside on Thursday, increasing concerns that the global economic recovery may slow and reduce demand for oil, as the nation reported a trade deficit of USD 7.3bn, its largest
Freitag, 11.03.2011, 08:26 Uhr
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