Singapore, 5 February (Argus) — Nymex crude futures slipped below $73/bl in today's after-hours trade on concerns about weak oil demand and a slow economic recovery in the US.
At 08:30 GMT the front-month Nymex March WTI crude contract was at $72.59/bl, lower by 55¢/bl from its close yesterday when the contract ended $3.84/bl lower.
The Ice March Brent crude contract fell by 79¢/bl to $71.34/bl.
Nymex March heating oil fell by 2.51¢/USG to $1.9101/USG, while Nymex March RBOB gasoline fell by 2.30¢/USG to $1.9278/USG.
Oil prices have been under pressure this week as data earlier in the week showed a rise in US crude stocks. An increase in US jobless claims added to the market's bearish sentiment in respect to an upturn in the US economy, the world's largest oil consumer.
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