Crude oil futures slipped to 103 dollars a barrel,thursday, as a subdued outlook for global demand outweighed disruptions on the supply side and the U.S. dollar falling to a near 4-month low against a basket of currencies. The World Bank cut its outlook for global growth, saying the economy should expand by 2.2 percent versus 2.3 percent in 2012, citing a deeper-than-expected recession in Europe and a slowdown in some emerging markets. So Brent crude slipped 51 cents, to 102.98 dollars a barrel. U.S. oil fell 52 cents, to 95.36 dollars a barrel. The International Energy Agency has said modest economic growth was limiting oil demand worldwide, and some developed economies would see absolute declines in oil consumption in 2013. Two other oil forecasters, OPEC and the U.S. government's Energy Information Administration, had cut their global oil demand growth forecasts on Tuesday.
News On AIR | June 14, 2013 9:48 AM
<br/>Crude slips on dollar fall