Wednesday, October 3, 2012

Crude falls below worries about glob. Growth + U.S. inventory data expected

 Forexpros - Crude oil futures are now down during the European morning hours on a 4 day deep, Where the fears over the outlook for global growth impacting the appetite for riskier financial instruments, while the uncertainty about an inquiry from a bailout of Spain also linger.

Distributors of oil direct the attention to investigate the exact weekly supply data on U.S. crude stocks and refined products by the U.S. Energy Information Administration.

On the New York Mercantile Exchange, light, sweet crude for November delivery during European morning trade, was trading at a price of 91.39 USD per barrel, a loss of 0.55%.

It earlier fell by 0.9% and even marked an intraday low at 91.08 USD per barrel, the lowest value since 27 September.