Oil below $46 after US report cuts demand forecast »
Posted By STONERS 8 months, 3 weeks ago in Business & FinanceOil prices slipped Wednesday after the U.S. Energy Department cut its crude demand forecast for 2009, stalling a two-week rally.
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STONERS8 months, 3 weeks ago
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"Benchmark crude for April delivery dropped 21 cents to $45.50 a barrel by midday in Europe on the New York Mercantile Exchange. Oil prices fell $1.36 on Tuesday to settle at $45.71."
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"The department's Energy Information Administration said Tuesday it lowered its forecast for global oil demand for this year by 200,000 barrels a day from last month and now projects a decline of almost 1.4 million barrel a day in 2009. Its projection for global oil consumption this year is now 3 million barrels a day below its forecast from September." -
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