TODAY.AZ / Business

Oil falls to lowest level this year

12 October 2006 [15:55] - TODAY.AZ
Oil prices fell to their lowest level this year on Thursday as traders waited for OPEC to thrash out details of an output cut and the market anticipated another rise in already hefty U.S. crude inventories.

U.S. crude was trading at $57.33 a barrel, 26 cents lower, by 0938 GMT, just off a session low of $57,24, which was the lowest level since December 19, 2005.

London Brent crude was 35 cents lower at $58.30. Reuters

URL: http://www.today.az/news/business/31362.html

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