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Brent Slips To $114/B As Demand Outlook Worsens
Published on Tuesday, 16 Oct 11:57 am
Brent futures slipped to $114/B on Monday, falling for a 2nd day due to worries over the worsening outlook for demand growth, although mounting supply concerns over escalating tension in the Middle East kept losses in check. A poll indicating China may have expanded in the 3Q at the slowest pace since the first three months of 2009 overshadowed data over the weekend showing an improvement in commodity imports . Prices were also hurt as the IEA last week cut its demand growth forecast for next year (Reuters). Brent crude has slipped 54 cents to $114.08/B, while US oil fell more than $1 to $90.82/B and traded 72 cents lower at $91.14/B.

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