Oil prices end the previous week below US$90

25-Jan-11

Oil futures have dipped below the 90 dollar mark on concerns of elevated supplies, capping a week of declining crude prices. Light, sweet crude for March delivery slid to US$89.1 on te Nymex, while Brent crude on the ICE futures exchange, rose 92 cents to US$97.50 a barrel. Worries about high crude inventories, particularly at the Nymex delivery point of Cushing, Okla., continued to weigh on the front-month contract for West Texas Intermediate.