Oil prices eased under $120 a barrel Friday in Asia amind stronger US dollar and Turkish pipeline sabotage
Oil prices eased under $120 a barrel Friday in Asia amind stronger US dollar and worries about economic growth offset supply concerns after Turkish pipeline sabotage is claimed by Kurdish rebels.
Light, sweet crude for September delivery fell 42 cents to $119.60 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract rose $1.14 cents overnight to settle at $120.02 a barrel.
The gains Thursday in the U.S. came after pro-Kurdish news agency Firat said the separatist group Kurdistan Workers' Party, known as PKK, admitted sabotaging the Turkish section of the critical Baku-Tbilisi-Ceyhan pipeline earlier this week.