Oil lower on profit-taking in Asia

Image
Agence Presse France Singapore
Last Updated : Jan 20 2013 | 9:23 PM IST

New York's main oil futures contract, light sweet crude for July delivery, fell 61 cents to $ 136.07  a barrel after a jump of $ 2.67 to a close of $ 136.68 yesterday at the New York Mercantile Exchange.        

Brent North Sea crude for August delivery eased 54 cents to $ 135.90 per barrel after a gain of $ 2.72 to $136.44 yesterday in London.        

"We see a little bit of profit-taking so far in Asia today," said Dave Ernsberger, Asia director of global energy information provider Platts.        

"There are at least some people in Asia who think there is good value in selling at these prices."         Global finance officials fear runaway oil prices

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 19 2008 | 12:22 PM IST

Next Story