4 months Oil prices fall on slowing demand concerns, but efforts to curb supply support MB |Biz
By Reuters SINGAPORE – Oil prices fell on Tuesday, offsetting narrow gains in the previous session, as sluggish demand forecasts countered expectations that major producers would prop up oil prices by limiting crude oil output. A view of an oil refinery off the coast of Singapore March 14, 2008.(REUTERS / Vivek Prakash / MANILA BULLETIN) International benchmark Brent crude futures LCOc1 were down 48 cents or 0.8%, from the previous settlement, at $58.09 a barrel by 0643 GMT. US West Texas Intermediate (WTI) CLc1 futures were at $54.52 per barrel, down by 41 cents, or 0.8%, from the last close. ... more