Bank Of Baku

Oil prices fall

Oil prices fall
# 21 January 2011 07:26 (UTC +04:00)
Baku – APA-Economics. Worries that China’s economy is overheating and a surprise increase in U.S. oil inventories pushed oil futures below $89 a barrel Thursday, Wall Street Journal reported.

Light, sweet crude for February delivery settled down $2, or 2.2%, at $88.86 a barrel on the New York Mercantile Exchange. With expiration of the February contract Thursday, the more heavily traded March contract settled down $2.22, or 2.4%, at $89.59 a barrel.

Brent crude on the ICE futures exchange recently fell $1.60, or 1.6%, at $96.56 a barrel.
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