The contract fell $2.23 to settle at $123.26 a barrel on Friday — oil's lowest point in weeks — as investors questioned whether crude has cooled enough to reflect a serious deterioration in demand.
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Oil Prices Gained Monday Amid Iran Increasing Nuclear Progamm
Oil prices rebounded Monday in Asia on comments by Iran's president suggesting a significant increase
Oil prices rebounded Monday in Asia on comments by Iran's president suggesting a significant increase in the country's nuclear program, but worries about the faltering U.S. economy and crude demand continued to weigh on futures.
Light, sweet crude for September delivery rose 13 cents to US$123.39 a barrel in Asian electronic trading on the New York Mercantile Exchange by midday in Singapore.
The contract fell $2.23 to settle at $123.26 a barrel on Friday — oil's lowest point in weeks — as investors questioned whether crude has cooled enough to reflect a serious deterioration in demand.
The contract fell $2.23 to settle at $123.26 a barrel on Friday — oil's lowest point in weeks — as investors questioned whether crude has cooled enough to reflect a serious deterioration in demand.
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