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Commodities Briefing - Categorized | Oil, Price Watch more

Lower demand drags oil back towards $60

Posted on 28 October 2008

From FT: Oil prices fell to a fresh 17-month low on Monday, trading just above $60 a barrel, on signals of lower energy demand in November, in spite of the arrival of the cold season in the northern hemisphere.

Nippon Oil, Japan’s largest refiner, said it will refine 15 per cent less crude oil next month than it did a year earlier because of weakening domestic demand….. Full Article: Source


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