(RTTNews) - The price of crude oil moved back to fresh 5-month low Friday morning amid lingering concerns over demand growth. Also, worries about China, the second biggest energy consuming nation, returned to the fore after data showed China's industrial production grew the least since 2009 in April and retail sales growth slowed to the weakest in 14 months
Light Sweet Crude Oil (WTI) futures for June delivery were down $1.20 to $95.88 a barrel.
Earlier today, the International Energy Agency nudged up its 2012 oil demand growth forecast by 0.8 million barrels per day (mbd) to 90.00 mbd as gains in the non-OECD more than offset declines in OECD demand.
This morning, the U.S. dollar was steady near its 3-month high versus the euro and a 3-week high against sterling, while trading flat versus the yen and the Swiss franc.
In economic news from the euro zone, Germany's EU harmonized consumer prices increased as estimated earlier in April, final data released by the Federal Statistical Office showed. The harmonized index of consumer prices (HICP) increased 2.2 percent on an annual basis in April, in line with the preliminary estimates. In March, EU harmonized consumer prices advanced 2.3 percent annually.
