Friday 24 August 2012

UPDATE 3-Oil slips below $115, set for fourth weekly gain - Yahoo! News Maktoob

Oil fell below $115 a barrel on Friday as signs of weakness in the global economy weighed on the demand outlook, although a host of supply-side concerns kept losses in check.
Crude was still heading for a fourth weekly gain because of lower exports from Iran, a drop in North Sea supply due to oilfield maintenance and the risk of weather-related disruption to Gulf of Mexico output.
Brent crude was down 38 cents at $114.63 a barrel by 0838 GMT, up about 0.8 percent on the week. U.S. crude eased 58 cents to $95.69.

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