Oil prices fell again Friday on cash and China slowdown a tight supply outlook.
U.S. benchmark crude fell $ 1.71,93.69 dollars in New York. Extending down to see the American Petroleum autumn approaching $ 100 a barrel from early plunge on Thursday.
It is used by many U.S. refineries to make gasoline prices oil, Brent crude fell $ 1.24 $ 100.91.
The average retail price of gasoline $ 3.59 a gallon, down a penny according to AAA, OPIS and Wright Express. Gasoline prices have been slowly declining over the past week, but still 12 cents higher than the same period last year.
Crude oil reached its highest level in a year Thursday, war with Syria, threatening the entire Middle East is more widespread violence, as well as market expectations of global economic recovery, demand for energy will increase.
Economic policy, increasing the shelf in the market has made the appeal of commodities like oil.
But Thursday, the U.S. Federal Reserve Board said it could begin tapering its bond purchases this year, which will reduce the amount of cash into the market. This will make it more expensive oil investment traders.
New report, the world's second largest economy in China, lending crunch and weak manufacturing data can also ease the demand for energy.
Revealed a sudden drop in oil prices vulnerable to oil market supply and demand outside of external influences. "After all, since the beginning of the fundamentals have not changed," Germany's Commerzbank in Frankfurt published report said.
Analysts do not expect oil prices will continue to decline, though. Geopolitical risks remain, OPEC has hinted that it will reduce oil production in the coming months, which will reduce global oil supply, to prevent further fall in prices.
"Can not be forgotten geopolitical premium, and may long remain silent, said:" In Hong Kong, an analyst at Calyon.
In other Nymex energy futures trading:
- Wholesale gasoline fell 3 cents to $ 2.75 a gallon.
- Heating oil fell 3 cents to $ 2.84 a gallon.
- Natural gas fell 11 cents to $ 3.77 per 1,000 cubic feet.
 
 



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