LONDON – Oil prices fell yesterday as rising US energy inventories soothed market concerns about tight supplies a day after New York crude struck a record peak above US$102 a barrel.
Downward price pressure also came from fresh concerns over slowing economic growth in the US, the world’s biggest energy consuming nation, which could herald lower demand for oil, traders said. New York’s main contract, light sweet crude for delivery in April, slid 30 cents to US$99,34 dollars per barrel, after rocketing to an historic high of US$102,08 on Wednesday.Brent North Sea crude for April delivery was at US$97,96 per barrel after striking an all-time peak of US$100,53 on Wednesday.New York’s main contract, light sweet crude for delivery in April, slid 30 cents to US$99,34 dollars per barrel, after rocketing to an historic high of US$102,08 on Wednesday.Brent North Sea crude for April delivery was at US$97,96 per barrel after striking an all-time peak of US$100,53 on Wednesday.
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