Crude Oil Hovers at 80 per Barrel Amid Demand Worries and Reduced War-Risk Premium

The crude oil price hovered around 80 dollars per barrel amid demand concerns and a waning war-risk premium which has triggered a sell off over the past week.   In intra-day trade, Brent crude was trading at 80 dollars and eight cents per barrel, while U.S. West Texas Intermediate crude was trading at 75 dollars and 80 barrels when reports last came in.