USD 76.2711

+0.23

EUR 89.4813

-0.52

BRENT 41.78

+0.12

AI-92 43.38

+0.02

AI-95 47.5

+0.05

AI-98 53.48

+0.01

Diesel 47.38

0

67

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.