Crude oil eased down to USD98.89 a barrel

Crude oil prices eased down during the last trade of 2011 on the negative headlines from the Euro Zone but the price was supported by fears over the disruption to oil supplies from Iran. Light, sweet crude oil futures for February delivery traded at USD98.89 a barrel, on the New York Mercantile Exchange, tumbling 0.95% during the week. On a yearly basis crude oil prices gained 8.2% indicating an increase for the third year in line.