Oil down a dollar as crisis crimps growth

Puntúa la noticia :

Nota de los usuarios: - (0votos)

• Empresas y finanzas

Share

Tweet

elEconomista.es en Twitter

Follow @eleconomistaes

EcoTablet - ¡Gratis en App Store!

La plataforma más completa de información y servicios económicos para iPad.

• Suscribirse al boletín
• Imprimir
• Enviar
• Aumentar texto
• Reducir texto
• Haga doble click sobre una palabra para ver su signifcado
• Sudoku: Juega cada día a uno nuevo
• El tiempo: Consulta la previsión para tu ciudad

By Chris Baldwin

LONDON (Reuters) - Oil fell for a fifth straight session to approach $50 a barrel on Thursday as the fallout from the credit crisis hits the global economy, hitting demand for fuel.

Japan's exports to Asia fell in October for the first time since 2002, showing that the turmoil has spread to neighbors such as China and adding momentum to investors' flight to the safety of cash.

U.S. light crude futures for December delivery, due to expire later on Thursday, fell 95 cents, or 1.75 percent, to $52.68 a barrel at 0845 GMT, trimming back from an earlier dollar drop.

London Brent crude shed $0.95x to $50.77 a barrel.

"The lack of any positive news on the demand front as well as continued global economic turmoil continues to result in a dearth of bullish news," said Jonathan Kornafel, Asia director of Hudson Capital Energy.

U.S. crude oil inventories rose 1.6 million barrels last week, twice analysts' expectations, according to data from the Energy Information Administration.

Total product demand fell by 7 percent against year-ago levels, the EIA reported on Wednesday, as consumption falls due to the economic crisis.

U.S. Federal Reserve forecasts that the U.S. economy will contract in the first half of next year and concern about the potential for deflation in the world's top oil consumer also weighed on crude prices.

Oil has shed almost two thirds of its value since its July record above $147 a barrel as demand in big consumer nations slows, prompting some members of the Organization of the Petroleum Exporting Countries (OPEC) to call for further oil output cuts.

OPEC ministers gather for talks in Cairo on November 29, having already decided last month to reduce output by 1.5 million barrels per day. They are scheduled to meet again on December 17 in Algeria.

(Reporting by Chris Baldwin; Editing by William Hardy)

PUBLICIDAD

- Recibe nuestros análisis Diarios sobre Divisas, Acciones y Opciones. ¡Apúntate ya! ¡Es GRATIS!

- Opere en más de 8.000 CFDs. Infórmese y obtenga su CFD Trading Guide

- Nuevos spreads en materias primas: Oro tan sólo 0,3 puntos, Plata 0,25, Petróleo 0,35

- Opera desde 2,95 € en tiempo real con Self Bank.