Crude for June delivery dipped to US$112.2 on the Nymex while Brent for June settled at US$125 on London’s ICE Futures Europe exchange. Oil prices have dropped from a 31 month high as signs of a faltering global economic recovery stoked speculation that demand for crude will decline, as per Bloomberg. This fall has trimmed an unprecedented eighth monthly gain, after data showed South Korea’s industrial production and US economic growth missed analysts’ forecasts. Reports are expected to show US spending cooled and businesses grew at a slower pace in the world’s biggest crude-consuming nation.
02-May-11 
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