Tue, 20 Mar 2012 09:48:45 GMT
Crude oil declines on the challenges of the US economy
Crude oil futures faced strong downward pressure after Federal Reserve official reported that the US economic recovery still faces challenges. However, escalated geopolitical tensions limited the losses. Light, sweet crude oil futures for May delivery traded at 108.21 US Dollars per barrel on the New York Mercantile Exchange, tumbling by 0.23%.