Oil futures fall below 80 dollars

08:20, March 16, 2010      

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Oil futures fell below 80 U.S. dollars a barrel on Monday due to a stronger U.S. dollar and concerns on energy demand.

Oil prices fell after the dollar rose against euro as the European countries could not work out a financial aid package for Greece.

Futures also fell on concerns that possible tightening in China might curb global energy demand.

The Organization of the Petroleum Exporting Countries are to meet in Vienna on Wednesday to discuss production policy.

Light, sweet crude for April delivery was down 1.44 dollars to 79.80 dollars per barrel. In London, Brent crude closed down 1.50 dollars to 77.89 dollars a barrel.

Source: Xinhua
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