Sunday, October 17, 2010
Crude Oil Declines on Weaker Outlook in Fuel Demand
The November contract dropped as much as 69 cents, or 0.9 percent, to $80.56 a barrel in electronic trading on the New York Mercantile Exchange, and was at $80.77 at 11:08 a.m. Singapore time. Futures lost $1.44, or 1.7 percent, to $81.25 on Oct. 15, the lowest settlement since Sept. 30. The market is in its longest pullback since a four day drop through Sept. 17. Prices slipped 1.7 percent last week and are up 1.8 percent this year. Brent crude for December settlement declined as much as 65 cents, or 0.8 percent, to $81.80 a barrel on the ICE Futures Europe exchange in London. The contract on Oct. 15 dropped $1.75, or 2.1 percent, to $82.45......Read the entire article.
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