Benchmark oil for February delivery dipped to US$98.7 in electronic trading on the New York Mercantile Exchange. Signs of improvement in the US economy have mellowed down oil prices below US$99. Last week saw oil prices escalate by nearly 3% after positive economic news that the US economy had accelerated to 4.1% growth in the third quarter raised expectations of increased demand. Concerns over friction in South Sudan have also pulled down oil prices. Brent crude, a benchmark for international oils, continued to inch up, up to US$111.5 a barrel on the ICE exchange in London.
26-Dec-13 
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