Oil prices drop on US$50/barrel jitters

Oil prices decreased in Asia Friday, pulling back further from the psychological $50 level as traders took profit and expectations of tighter global supply receded.  US benchmark West Texas Intermediate for July delivery was down 32 cents at $49.16 a barrel while Brent North Sea crude, the European standard, was 33 cents lower at $49.26. Read more here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s