Oil Prices Drop on US Energy Report

2014-03-06 01:46:43

(MENAFN- Qatar News Agency) Global oil prices fell sharply on Wednesday following news of a weak crude demand in the United States, which is the world's top consumer. Brent North Sea crude for delivery in April sank $1.01 to $108.29 a barrel in London late afternoon deals. West Texas Intermediate (WTI) for April shed $1.24 to $102.09 a barrel. The US Department of Energy announced in its weekly energy report that American crude inventories rose by 1.4 million barrels in the week ending February 28. The oil market was also hit after a report showed only modest US private-sector jobs growth in Februar

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Oil Prices Drop on US Energy Report

More Story