Light, sweet crude futures for March dipped to US$72.7, while Brent crude on ICE Futures exchange dipped to US$71.2. Prices have dipped marginally on the first day of the week as prices have been weighed by persistent doubts over global oil demand recovery amid weaker regional equities at a time when the dollar is strengthening as concerns emerge over China’s monetary policy and banking regulations in USA.
Nymex front-month contract has fallen by over ten dollars over the last three weeks. Though oil fundamentals have been weak for over a year, crude prices have been fortified by support from robust equity markets and a generally weaker dollar.
02-Feb-10 
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