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Oil market update: Nymex crude slips on demand concerns

  • : Biofuels, Coal, Corporate, Crude oil, Electricity, Emissions, Freight, Fundamentals, LPG, Natural gas, Oil products, Petroleum coke, Politics
  • 09/07/13

Singapore, 13 July (Argus) — Nymex crude futures fell in today's after-hours session amid weaker equity markets and continued concerns about oil demand.

At 08:31 GMT, the front-month August US crude futures contract was at $59.47/bl, falling by 42¢/bl from its close at the end of last week when the contract ended 52¢/bl lower.

The Nymex August front-month heating oil futures contract in after-hours trade fell by 1.01¢/USG to $1.5234/USG. Nymex August RBOB gasoline prices fell by 0.34¢/USG to $1.6471/USG.

Market sentiment turned bearish at the end of last week as the IEA said global oil demand would contract by 2.9pc this year.

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