Oil falls on global demand concerns

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Source: Bloomberg
Brent crude oil declined after reaching one -month high on global demand concerns amid manufacturing slowdown worldwide Brent oil futures for August delivery  lost 1.4% to trade at USD99.26 on the ICE Futures Europe Exchange. Meanwhile Iran is likely to resolve its nuclear program issue with world's policy makers in Istanbul later in the day. Norway on Tuesday decided not to exacerbate the strike. Taken easing supply worries and global demand concerns, Societe Generale SA shortened its forecasts for Brent oil.
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Wed, 04 Jul 2012 13:22:38 GMT

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