Reported 13 days ago
Oil prices fell over 2% as fears of supply disruptions in Libya eased while concerns regarding insufficient demand in China persisted despite new stimulus efforts. Brent crude settled at $73.46 a barrel and West Texas Intermediate at $69.69. Analysts suggest that additional fiscal measures may be needed to bolster confidence in the Chinese economy, contributing to uncertainty in ongoing demand growth, despite a drop in U.S. crude inventories and ongoing geopolitical tensions in the Middle East.
Source: YAHOO