Oil prices have fallen below USD 50/bbl on Tuesday morning following a rollercoaster session on Monday prompted by the International Energy Agency markedly reducing its global oil demand forecast for 2009, with players saying the volatility will remain as oil continues to shadow stock markets.
The front month WTI contract was last seen changing hands at USD 49.54/bbl on Nymex, down USD 0.51 on Monday's close, while the Brent North Sea crude oil contract for May delivery was trading USD 0.34 below the previous settlement at USD 51.80/bbl.
On Monday, the WTI contract ended the day down USD 2.19 at USD 50.05/bbl after having traded in a USD 48.82-52.15/bbl range.
Dienstag, 14.04.2009, 08:30 Uhr
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