Oil Drops on Easing Supply Shortage
Charlotte McLeod - October 2nd, 2012
Bloomberg reported that the news that a supply shortage in New York Harbor is likely to become less severe brought oil prices down for the first time in four days.
Bloomberg reported that the news that a supply shortage in New York Harbor is likely to become less severe brought oil prices down for the first time in four days.
As quoted in the market news:
Crude for November delivery slipped 59 cents to settle at $91.89 a barrel on the New York Mercantile Exchange. Prices are down 7 percent this year.
Brent for November settlement fell 62 cents, or 0.6 percent, to $111.57 a barrel on the London-based ICE Futures Europe exchange.