Bank Of Baku

Oil prices fall

Oil prices fall
# 26 January 2011 07:30 (UTC +04:00)
Baku – APA-Economics. Crude futures settled at the lowest level in eight weeks Tuesday, stung by a surprise contraction in the U.K. economy and weak data in the U.S. that shook confidence in the global recovery, Wall Street Journal reported.

Light, sweet crude for March delivery fell $1.68, or 1.9%, to $86.19 a barrel on the New York Mercantile Exchange, the lowest settlement since Nov. 30.

Brent crude on the ICE futures exchange traded $1.36 lower at $95.25 a barrel.
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