Crude oil price has been stressed back to the range of USD71 level per barrel in trading Wednesday (26/8/2009) local time, along with the United States government reports (U.S.) on the increasing amount of supply last week. This is considered as a sign of weakening demand.
As quoted by Reuters on Thursday (27/8/2009), the reference price of oil for october delivery contract fell 62 cents to as low as US$ 71, 43 per barrel in the New York Mercantile Exchange (NYMEX) trading. While in London, the price of Brent crude fell 17 cents to US$ 71, 65 per barrel.
