Brent slips for 6th day, stays above $109 as Mideast supports

By International Business Times,  October 23, 2012, 03:57:41 AM EDT

(Reuters) - Brent futures slipped for a sixth day on Tuesday on worries over oil demand growth due to an uncertain global economic outlook, but stayed above $109 a barrel with simmering tensions in the Middle East helping stem the slide.

Global growth fears revived after the world's largest maker of tractors and excavators Caterpillar Inc. ( CAT.N ) warned the global economy was slowing faster than expected. That overshadowed worries about supply disruption in the oil market from the Middle East after violence intensified in Lebanon.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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