Crude oil prices fell to near 75 dollars a barrel in Asia, today, as traders mulled signs of tepid US crude demand against growing consumption in developing economies. Benchmark crude for June delivery fell 27 cents, to 75.38 dollars a barrel on the New York Mercantile Exchange. US Crude inventories keep rising,defying analyst predictions that a recovering US economy would boost demand. The Energy Information Administration said on Wednesday that oil supplies increased more than expected last week as stockpiles grow for 14 of the last 15 weeks.
News On AIR | May 13, 2010 5:19 PM
Crude oil slips to near US $ 75 per barrel