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| News and Updates |
| ISLAMABAD: Agreement on adoption of negative list approach at ministerial level talks between India and Pakistan would give quan - Oct 01, 2011 19:23:56 |
LONDON (AFP) - World oil prices fell on Friday at the end of a rollercoaster week as traders eyed mixed economic data, resurgent doubts over the eurozone debt crisis and plunging European stock markets.
New York’s main contract, West Texas Intermediate (WTI) for delivery in November, dipped 12 cents to $82.02 a barrel.
Brent North Sea crude for November was down 53 cents to $103.42 in London midday trade.
In a volatile week for the oil market, prices surged by more than four dollars in New York on Tuesday, mirroring huge gains in equities, as investors hoped that European leaders would contain the eurozone debt crisis. But prices tumbled on Wednesday as those hopes subsided and after data showed a bigger than expected increase in energy stockpiles in the United States, indicating weak demand in the world’s biggest economy and oil consumer. Prices edged higher Thursday on news that German lawmakers had approved an expansion of the eurozone’s rescue fund while sentiment was also lifted by hopeful economic data in the United States.
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