Sindonews -oil prices in Asian trade today after a fall, the International Energy Agency (IEA) lowered its projection of global demand and increasing inventories data in the us.
Reported by Global Post, Thursday (14/3/2013), New York's main contract, light sweet crude for April delivery dropped 25 cents to USD92,27 a barrel and Brent North Sea crude oil for April delivery fell 29 cents to USD108,23
The IEA cut its global forecast for yesterday the growth in world oil demand over the past two months in a row, citing the uncertainty of the U.S. budget talks, flagging business activities in China and unemployment in Europe.
Estimated oil demand, a total of 90.6 million barrels a day this year, cutting 60,000 barrels from an estimate in February 2013.
"The IEA cut its forecast of global 2101 oil, plus the pessimism," said Sanjeev Gupta, who heads the Asia-Pacific oil and gas Ernst and Young practitioners.
The latest Data from the US Department of energy showed stocks rose 2.6 million barrels last week to 8 March, indicating weakening demand in the world's largest economy.
(dmd)Finance; Investment; Business; Economics
Finance; Investment; Business; Economics
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