Oil prices lost support yesterday after hitting 28-month highs over fears of fallout from a possible US military attack on Syria for its alleged use of chemical weapons. In New York trade, the benchmark WTI crude for October delivery lost 1.01 dollar from Friday to finish at 109.52 dollar a barrel. In London, Brent North Sea crude for October settled at 113.72 dollar a barrel, down 2.40 dollar from Friday. Some of the weakness appeared to stem from the details of China's August trade report, which showed oil imports falling.The markets also shrugged off buoyant economic data from China and Japan, with the latter's second quarter growth rate revised higher to 0.9 percent and China's August trade surplus coming in larger than expected.
News On AIR | September 10, 2013 9:16 AM
Oil prices fall on fears of Syria strike