Oil prices below US$97 in Asia amid investor optimism

07-Jul-11
Benchmark oil for August delivery dipped to US$96.7 on the Nymex from US$96.8 on Tuesday. In London, Brent crude dipped to US$113.50 on the ICE Futures exchange. Oil prices lingered below the US$97 mark in Asia amid investor optimism that strong crude demand from developing countries will offset weaker consumption growth in rich nations. Roust economic growth in China, India, Saudi Arabia and Brazil is expected to fuel greater crude demand.
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