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Monday, February 6, 2012

Crude oil prices down february 6 2012

Crude oil prices down february 6 2012 : Oil slipped under $114 a barrel on Monday as traders and investors worried that a failure to agree a deal with Greece for a second bailout would suppress demand in the eurozone, but renewed tensions with Iran kept a floor under prices.

Oil fell from the highest price in three days in New York on speculation Greece’s steps to avert a financial collapse may fall short, threatening Europe’s economy and demand for fuel.

Crude for March delivery slid as much as 89 cents to $96.95 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.97 at 4:32 p.m. Singapore time. The contract rose $1.48 to $97.84 on Feb. 3, the highest settlement since Jan. 31. Prices are down 1.9 percent this year.

Brent oil for March settlement on the London-based ICE Futures Europe exchange dropped as much as 68 cents, or 0.6 percent, to $113.90 a barrel. The European benchmark contract was at a premium of $17.06 to New York-traded West Texas Intermediate, the widest since Nov. 8. The spread was a record $27.88 on Oct. 14, For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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