Oil prices retreated in a corrective move after Saudi Oil Minister's announcement that supply is plentiful and demand is well met by supply. Early in the week, prices jumped to over US$$69 a barrel on supply concerns due to Iran's standoff with the West over its nuclear ambitions and continuing unrest in oil-rich Nigeria.
Light sweet crude for March delivery retreated to US$68.35 on the New York Mercantile Exchange and March Brent crude at London's ICE Futures exchange fell to US$65.88 a barrel.
24-Jan-06 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}