| 23.01.2009 - Crude slides on slowing demand |
| From FT: Oil prices retreated on Thursday after US inventories of crude oil and products surged four times more than expected, signalling that supply is still outstripping demand amid the global slowdown. West Texas Intermediate and Brent erased early gains following the release of the latest weekly US data, which showed crude stocks climbed by 6.1m barrels last week to 332.7m barrels, far exceeding the consensus forecast for a rise of 1.4m..... Full Article: Source |