Oil prices fall on Europe debt woes
Tuesday, 24 January 2012 10:06 | 
Oil prices fall on Europe debt woes
Oil prices were lower in the Asian trade today amid renewed concerns over Europe’s ability to deal with its towering debt crisis, analysts said.
New York’s main contract, West Texas Intermediate crude for delivery in March, was down 22 cents at $98.11 a barrel in morning trade. Brent North Sea crude for March delivery shed three cents to $109.83.
Crude oil futures prices today fell 0.5 per cent to Rs 4,984 per barrel, as speculators offloaded positions in tandem with a weakening global trend.
At the Multi Commodity Exchange, the oil for delivery in March moved down by Rs 25 or 0.5 per cent to Rs 4,984 per barrel with a trading volume of 763 lots. In a similar fashion, crude for February contract shed Rs 22 or 0.44 per cent to Rs 4,957 per barrel in 10,687 lots.
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