MW: Oil falls for second day as IEA sees weaker demand
Crude-oil futures fell Thursday for a second session, as the International Energy Agency lowered this year's global oil demand forecast. Demand is projected to fall 2.6 million barrels a day comparing with 2008, 200,000 barrels more than the IEA had projected a month ago, according to a IEA monthly report released Thursday. "Continued oil demand weakness is premised on strong economic recovery later this year remaining elusive," the IEA said in the report. Crude for June delivery fell $1.04, or 1.8%, to $56.98 a barrel in early North American electronic trading.
