Oil falls in light trading

08:05, December 28, 2010      

Email | Print | Subscribe | Comments | Forum 

Crude prices fell on Monday in light trading after hitting its 26-month high last week.

Last week, unexpected drop of U.S. crude oil inventories, positive economic data combined with cold weather drove oil price to its peak since October 2008.

But on the first day after Christmas break, oil dipped as a snowstorm that blanketed U.S. East Coast decreased further the already light trading volume on the New York Mercantile.

And the market worried about the demand in short terms after China raised its interest rate by 25 basis points on Sunday.

Light, sweet crude for February delivery fell 51 cents to 91.00 U.S. dollars a barrel on the New York Mercantile.

Source: Xinhua
  • Do you have anything to say?


Special Coverage
  • Focus On China
  • Shanghai World Expo 2010
Major headlines
Editor's Pick
  • Package at Greek embassy in Rome defused by police
  • 2010 Guangzhou int'l auto show concludes
  • Heavy snow hits NW China
  • Shanghai Expo Pavilions demolition under way
  • China's top 10 athletes in 2010
  • South Korean actor Bae Yong-joon to star in "Dream High"
Hot Forum Dicussion