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JAKARTA, KOMPAS.com - At the close of trading on Saturday (13/10/2012), the NYMEX crude oil prices back down. New York's main contract, light sweet crude for delivery in November, fell 21 cents to close at 91.86 dollars per barrel. Brent North Sea crude for November also fell 1.09 dollars to 114.73 dollars per barrel in late London trading.
The weakening crude oil prices came after the International Energy Agency (IEA) cut its forecast for global oil demand growth. That triggered speculation, especially after emerging geopolitical concerns in Syria.
The IEA cut its global oil demand growth forecast by 500,000 barrels per day for 2011 to 2016 in the midst of a global economic slowdown. IEA estimates that global oil demand to grow half a million barrels per day, less than previously estimated through 2016.
editor: Natural Nasru Aziz
source: Kompas.com
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