RTTN:Crude Slips From 2-week High In Asian Session
(RTTNews) - The price of crude oil was leveling off from a two-week high in Asian session Friday amid fears over slowing demand from China.
Earlier today, data from the General Administration of Customs showed trade surplus in China widened to $27.3 billion in January from $16.5 billion in December.
Light Sweet Crude Oil (WTI) futures for March delivery, edged down $0.35 to $99.49 a barrel. U.S. crude oil futures closed higher for a third straight session Thursday, after Greek leaders agreed to an austerity deal for a second bailout package from international lenders and an upbeat jobless claims in the U.S.
Yesterday, the Organization of the Petroleum Exporting Countries trimmed its world oil demand growth forecast by 0.12 mbd to 0.90 mbd for 2012, citing recent economic setbacks.
