NEW YORK: Oil prices fell yesterday amid concerns over a US stockpile buildup and worries that the global economic slump will further dampen demand.
The benchmark contract, light sweet crude for February delivery, fell 93 cents to close at US$41.70 on the New York Mercantile Exchange.
In London, Brent North Sea crude for delivery in February dropped US$1.19 to US$44.67 a barrel on the InterContinental Exchange.
The market remain gripped over the Israel-Hamas war in Gaza and potential effects on Middle East oil supplies, causing oil prices to be up briefly in European and Asian trading hours yesterday. — AFP
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