US crude surpassed $105 to reach the highest price in 2-1/2 years on Monday as a counter-offensive by Libya's Muammar Gaddafi against rebels deepened concerns that a civil war is
Oil prices fell to near USD 75 a barrel today in Asia as traders mulled signs of tepid US crude demand against growing consumption in developing economies.
Benchmark crude for
Oil prices fell to near $82 a barrel on Thursday in Asia, paring two days of gains that were fueled by signs US crude demand may be improving.
Benchmark
Oil prices extended losses in Asian trade Thursday on a weaker equities market and a build-up in US crude inventories, analysts said.
Oil prices fell below USD 83 a barrel today in Asia as investors worried a 20 percent rally in the last few weeks isn't justified by sluggish US crude demand.
Asian shares hovered close to eight-month highs on Wednesday.
US crude fell $6.07, or 5 per cent, to $115.11 a barrel at 1825 GMT, the biggest one-day fall in percentage terms since December 2004. London Brent crude fell $5.85 to $114.31 a barrel.
U.S. crude rose half a percent or 56 cents to $115.09 a barrel, while London Brent crude climbed 45 cents to $113.70 a barrel at 0323 GMT.
Stay informed on our latest news!
