USD 65.6046

-0.02

EUR 72.6243

-0.21

BRENT 59.13

+0.04

AI-92 42.31

+0.03

AI-95 46.07

+0.02

AI-98 51.76

+0.01

Diesel 46.02

+0.03

14

Oil Continues Falling on Weak US Economy

Oil fell to a 3-month low on Wednesday, as lingering concerns of a weak US economy continued to weigh on demand

Oil fell to a 3-month low on Wednesday, as lingering concerns of a weak US economy continued to weigh on demand, but conflicts in Nigeria and Iran's nuclear dispute could counter the bearish effects.

US light crude fell 70 cents to $118.47 a barrel, its lowest since May 5, representing a drop of nearly 20 per cent from mid-July's record high at more than $147, while London Brent crude shed 65 cents to $117.05 a barrel.

As oil prices plunged, the dollar climbed to seven-week peaks against the euro and a major currency basket on Tuesday.