Oil plummets from three-month high amid signs gains excessive

Source: Bloomberg
© Scanpix/AP
Oil tumbled amid speculation that its increase to a three-month high level might have been excessive. WTI for February settlement fell to $92.49 a barrel, down 63 cents, and futures soared 1.4% to $93.12 a barrel, the most since September 18, while Brent oil for February delivery dropped 65 cents, or 0.6%, to $111.82 a barrel and New York crude was set at $92.48 a barrel.

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Thu, 03 Jan 2013 09:37:26 GMT

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