Monday, October 15, 2012

Asian markets report oil prices down in early trading

November crude falls 79 cents, Brent 58

Early trading on the New York Mercantile Exchange saw crude prices fall to $91.07 per barrel by noon Bangkok time following a decline of 21 cents on Friday at $91.86.

Brent crude, a benchmark price used to index other grades, fell 58 cents to rest at $113.03 per barrel in London.

Traders referred to Chinese indicators that have done little to raise hopes for an economic rebound in that nation as a key reason for the drop in oil prices. 

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