Crude declines on weak US economic data

Oil prices fell more than a dollar as weak US economic data stoked worries about demand, and the international energy agency suggested members could release emergency stocks if OPEC failed to act. However, Nymex is currently stable in Asia trade. The Brent is trading around USD 112 dollars.

May 20, 2011 / 12:05 IST

Oil prices fell more than a dollar as weak US economic data stoked worries about demand, and the international energy agency suggested members could release emergency stocks if OPEC failed to act. However, Nymex is currently stable in Asia trade. The Brent is trading around USD 112 dollars.

Gold declined on speculation that slowing inflation will curb demand for the metal as a hedge against rising consumer prices.

first published: May 20, 2011 07:47 am

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