Oil on the Nymex continues to dip

Benchmark oil for May delivery dipped to US$88.6 per barrel in Asia on the Nymex. On the first day of the week, crude dropped by almost 3% as gold and industrial metals plunged after China reported unexpectedly slow economic growth in the first three months of 2013. The world's second-largest economy grew by 7.7% in 2012, slower than many forecasts. Also, the International Monetary Fund has lowered its outlook for world economic growth this year to 3.3%, down from its forecast in January of 3.5% - in 2013, U.S. economic growth is expected at 1.9% and the combined economy of the 17 euro countries will shrink 0.3%. Brent crude rose to US$100.1 a barrel on the ICE Futures exchange in London.
  More News  Post Your Comment
{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha