After dipping to US$113 levels, crude oil prices have settled at US$114.45 a barrel in New York. Concerns abound in the markets about weakening demand particularly in the EU and in China. Recent data has shown a sharp fall in Chinese oil imports. In London, Brent North Sea crude for September delivery settled at US$112.67, after dipping as low as US$111.
The suddenly stronger US economy has changed the perspective in which the world is revaluing assets based upon the perceived health of their own economies.
13-Aug-08 
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