Market Chatter: Brent Crude Oil Falls Below $100 a Barrel


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"Brent crude dropped below $100 a barrel for the first time since July on signs global economic growth will slow, curbing fuel use. West Texas Intermediate oil slipped to a four-month low on speculation U.S. stockpiles rose," Bloomberg reported.

It said: "Brent futures touched $98 a barrel as the International Monetary Fund cut its global growth forecast and urged European policy makers to take action to bolster growth. Futures tumbled yesterday after data showed China's economy expanded at a slower pace than expected last quarter."

"Brent oil for June settlement fell $1.09, or 1.1%, to $99.54 on the London-based ICE Futures Europe exchange. The May futures contract expired at $100.39 yesterday. WTI crude for May delivery slipped 27 cents, or 0.3%, to $88.44 a barrel on the New York Mercantile Exchange. Prices fell as much as $2.65 to $86.06 earlier."

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This article appears in: Investing , Commodities


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