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Commodities Briefing - Categorized | Oil, Price Watch more

Oil price down slightly on lower demand forecast

Posted on 13 June 2013

The price of oil was down slightly but remained above $95 a barrel Wednesday as experts said global demand for crude would be slightly lower than previously expected. By early afternoon in Europe, benchmark oil for July delivery was down 7 cents to $95.31 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 39 cents to close at $95.38 per barrel on Tuesday.
The International Energy Agency cut its forecast for global crude demand in 2013 by 80,000 barrels a day. It now expects the world to consume 90.6 million barrels a day this year, 785,000 barrels a day more than in 2012………………………………………..Full Article: Source


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