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BULLET: OIL: World oil prices fell in Asia Monday after the..
OIL: World oil prices fell in Asia Monday after the OECD cut its growth
forecast for the US economy in 1Q and 2Q, pointing to a slowdown in oil
demnand.
In morning trade, New York's main oil futures contract, light sweet
crude for delivery in May, tumbled $1.41 to $100.43 per barrel. The
contract closed at $101.84 on Thursday, at one time sinking to below the
psychologically important 100-dollar level. Markets were closed Friday
for a public holiday.
London's Brent North Sea crude for May delivery fell $1.03 to
$99.35 per barrel, after settling at $100.38 on Thursday.
Analysts said prices may hover around the $100 mark as the market
mulls further economic data out of the US.