Crude prices fall as warmer weather to cut demand

08:29, January 13, 2010      

Email | Print | Subscribe | Comments | Forum 

Crude prices fell on Tuesday as investors expected that warmer weather would cut fuel demand.

According to weather forecasts, the very cold weather across the central and eastern United States will come to an end during the next several days. Investors expected the milder weather may cut heating oil demand.

In a monthly report issued on Tuesday, the Energy Department cut a previous forecast for world oil demand growth in 2010 by 20,000 barrels a day.

Light, sweet crude for February delivery fell 1.73 U.S. dollars to settle at 80.79 a barrel on the New York Mercantile Exchange.

In London, Brent crude for February delivery fell 1.79 dollars to 79.18 dollars a barrel on the ICE Futures exchange.

Source: Xinhua
  • Do you have anything to say?


Special Coverage
Major headlines
Editor's Pick
  • Yellow rice wine making craftsmanship preserved in Shaoxing
  • Shanghai World EXPO Garden finishes 90% of construction
  • Bus drivers go on strike in Budapest
  • Security intensified in Iraq's Baghdad
  • Bomb explodes in Pakistan's Peshawar
  • Real Madrid loses striker Higuain with thigh injury
Most Popular
Hot Forum Dicussion