Crude slips further; trading at $ 99.90/bbl

Oil declines for a second day, dropping more than 2% as concerns that slowing economic growth will curb petroleum demand were reinforced by disappointing reports on US private sector employment and manufacturing.

June 02, 2011 / 07:55 IST

Oil declines for a second day, dropping more than 2% as concerns that slowing economic growth will curb petroleum demand were reinforced by disappointing reports on US private sector employment and manufacturing. Currently it is trading at USD 99.90 per barrel.

However in precious metals, gold futures rose to a 4-week high as the slumping dollar and a decline in US equities boosted demand for the precious metal as an alternative asset.

first published: Jun 2, 2011 07:52 am

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