Oil Investing News » Oil Retreated in Asia, New York Crude Holds Above 71 years

Oil Retreated in Asia, New York Crude Holds Above 71 years

August 8, 2009 @ 8:31 am In Oil Market News

Oil pulled back in Asia on Friday as regional stock markets eased and investors awaited a US report on unemployment which could give fresh clues on the health of the recession-hit economy.

Victor Shum, senior principal at energy consultancy Purvin and Gertz in Singapore, stated:

Oil is retreating a bit and that's not surprising considering that Asian equity markets are also easing.

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[1] here: http://economictimes.indiatimes.com/News/Economy/Indicators/Oil-retreats-in-Asia-New-York-crude-holds-above-71-dollars/articleshow/4865973.cms