Sentiments weaken on unexpected decline in US consumer credit, oil slips in Asia

12-Sep-12
New York's main contract, light sweet crude for delivery in October dipped to US$96.2 a barrel and Brent North Sea crude for October delivery dipped marginally to US$114.7. Prices have slipped as sentiment dampened after an unexpected decline in US consumer credit. The US Federal Reserve reported consumer credit fell in July after 10 months of gains, raising concerns about confidence while unemployment remains high in USA. All eyes are on the Fed policy meeting starting Wednesday, with expectations high that it will announce a new round of stimulus measures to boost the struggling economy.
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