الرئيسية
SINGAPORE (AP) —
Oil slipped to near $93 a barrel Monday in Asia as crude followed the
region's stock markets lower after North Korea announced the death of
leader Kim Jong Il.
Benchmark crude for January delivery was down
31 cents to $93.22 a barrel at late afternoon Singapore time in
electronic trading on the New York Mercantile Exchange. The contract
fell 34 cents to settle at $93.53 on Friday.
In London, Brent crude was down 40 cents at $102.85 on the ICE futures exchange.
Asian
stock markets dropped Monday amid fears Kim's death could lead to
greater instability on the divided Korean peninsular. South Korea's
stock market fell 3.4 percent, Hong Kong slid 1.2 percent and Japan was
down 1.3 percent.
Crude has fallen from above $100 earlier this
month on growing fears Europe's debt crisis will trigger a recession on
the continent next year and undermine global oil demand.
Oil
prices have been supported by signs of a slowly improving U.S. economy,
and the latest data on U.S. housing and gross domestic product are
scheduled to be announced later this week.
"Attention to these
numbers could shift focus away from Europe for a week or so and toward
the U.S. with a potential rebound in the stock market sparking another
rally across the energy complex," energy consultant Ritterbusch and
Associates said in a report
In other energy trading on the Nymex,
natural gas fell 4.7 cents to $3.08 per 1,000 cubic feet. Heating oil
dropped 0.7 cent to $2.80 a gallon and gasoline futures were down 0.2
cent to $2.49 a gallon.
Oil slipped to near $93 a barrel Monday in Asia as crude followed the
region's stock markets lower after North Korea announced the death of
leader Kim Jong Il.
Benchmark crude for January delivery was down
31 cents to $93.22 a barrel at late afternoon Singapore time in
electronic trading on the New York Mercantile Exchange. The contract
fell 34 cents to settle at $93.53 on Friday.
In London, Brent crude was down 40 cents at $102.85 on the ICE futures exchange.
Asian
stock markets dropped Monday amid fears Kim's death could lead to
greater instability on the divided Korean peninsular. South Korea's
stock market fell 3.4 percent, Hong Kong slid 1.2 percent and Japan was
down 1.3 percent.
Crude has fallen from above $100 earlier this
month on growing fears Europe's debt crisis will trigger a recession on
the continent next year and undermine global oil demand.
Oil
prices have been supported by signs of a slowly improving U.S. economy,
and the latest data on U.S. housing and gross domestic product are
scheduled to be announced later this week.
"Attention to these
numbers could shift focus away from Europe for a week or so and toward
the U.S. with a potential rebound in the stock market sparking another
rally across the energy complex," energy consultant Ritterbusch and
Associates said in a report
In other energy trading on the Nymex,
natural gas fell 4.7 cents to $3.08 per 1,000 cubic feet. Heating oil
dropped 0.7 cent to $2.80 a gallon and gasoline futures were down 0.2
cent to $2.49 a gallon.