Saturday 21 January 2012

Oil falls on economic, demand concerns | Reuters

Oil prices fell on Friday, pressured by economic uncertainty ahead of a possible debt deal in Greece, concerns about China's sluggish manufacturing sector and weak U.S. petroleum demand.

China's manufacturers had a sluggish start to the year, a survey of purchasing managers showed, weighing on oil and also on copper prices.

News that major powers seeking to negotiate an end to Iran's suspected pursuit of nuclear weapons are soon to lay out what Tehran would need to do return to talks added to pressure on oil prices, analysts and broker said.

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