Oil prices extend losses in Asia

Wednesday, October 23rd, 2013 10:49:05 by

US oil prices have extended more losses in the Asian trade, as it was reported on Wednesday that dealers are increasing stockpiles, which means that the demand for oil in the world’s biggest economy has fallen.

The prices slipped down by 16 cents for December as they were sold for $98.14 per barrel. On the other hand, the contract or November states that a further $1.42 will be lost as the price per barrel settled for $97.80.

Brent North Sea crude for December delivery improved three cents and now it is settled on $109.94.

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