Crude Declines on Demand Concerns After Fed Lowers U.S. Economic Forecast

- June 23rd, 2011

Bloomberg reports that oil dropped for the first time in four days.

Bloomberg reports that oil dropped for the first time in four days.

The market news is quoted as saying:

Oil for August delivery on the New York Mercantile Exchange declined as much as $4.30 to $91.11 a barrel in electronic trading and was at $91.28 at 1:44 p.m. London time. The contract yesterday rose 1.3 percent to $95.41 and has gained 20 percent in the past year.

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