B
Buckdodgers
Guest
LONDON (AFP) - World oil prices edged lower after shedding more than two and a half dollars in London and New York the previous day.
In London, Brent North Sea crude for June delivery slipped 12 cents on Tuesday to 69.55 dollars per barrel in electronic deals.
New York's main contract, light sweet crude for delivery in June, nudged down two cents to 69.39 dollars per barrel before the US market's official opening.
"Oil futures were down a little, with the spectre of the sell-off in the commodity markets still hanging over the market as investors worry that sky high prices have dented demand," analysts at the Sucden brokerage firm said.
"However while a larger correction may yet be seen, the fear of supply problems in
Iran and Nigeria remains a major concern."
On Monday, Brent had closed down 2.65 dollars and New York's main contract dived 2.63 dollars per barrel, as expectations of weakening energy demands eased supply concerns related to Iran, dealers said.
On Friday, the International Energy Agency had cut its forecast for oil demand in 2006.
The IEA, which monitors energy conditions for the world's leading industrialized states and oversees supply arrangements in times of crisis, added also that an increase in Iraqi exports had helped boost worldwide production in April.
Oil prices continue to fall
I think this is politicaly motivated.Why you think its falling all the sudden? So voters can forgive and forget what george bush did by not going after oil excutives and have them arrested by the FBI for price gouching.So they continue to vote for the G.O.P in november.
In London, Brent North Sea crude for June delivery slipped 12 cents on Tuesday to 69.55 dollars per barrel in electronic deals.
New York's main contract, light sweet crude for delivery in June, nudged down two cents to 69.39 dollars per barrel before the US market's official opening.
"Oil futures were down a little, with the spectre of the sell-off in the commodity markets still hanging over the market as investors worry that sky high prices have dented demand," analysts at the Sucden brokerage firm said.
"However while a larger correction may yet be seen, the fear of supply problems in
Iran and Nigeria remains a major concern."
On Monday, Brent had closed down 2.65 dollars and New York's main contract dived 2.63 dollars per barrel, as expectations of weakening energy demands eased supply concerns related to Iran, dealers said.
On Friday, the International Energy Agency had cut its forecast for oil demand in 2006.
The IEA, which monitors energy conditions for the world's leading industrialized states and oversees supply arrangements in times of crisis, added also that an increase in Iraqi exports had helped boost worldwide production in April.
Oil prices continue to fall
I think this is politicaly motivated.Why you think its falling all the sudden? So voters can forgive and forget what george bush did by not going after oil excutives and have them arrested by the FBI for price gouching.So they continue to vote for the G.O.P in november.
