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LONDON, Nov 17: World oil prices slid from historic heights close to 100 dollars a barrel this week on easing supply concerns.
Most metals futures also fell as the dollar stabilised against the euro.
OIL: Crude futures slumped further from all-time highs of $98.62 in New York and $95.19 in London as Opec and the International Energy Agency (IEA) downgraded their forecasts for global oil demand.
Prices were also hit late in the week by news of a surprise increase to US energy stockpiles. Losses were limited after Opec ruled out an imminent hike to crude output.
On Thursday, the Organization of Petroleum Exporting Countries lowered its estimate for world oil demand growth in 2007, citing a late winter and high gasoline prices in North America that appear to be reducing consumption.
The cartel, which produces about 40 per cent of the world
Most metals futures also fell as the dollar stabilised against the euro.
OIL: Crude futures slumped further from all-time highs of $98.62 in New York and $95.19 in London as Opec and the International Energy Agency (IEA) downgraded their forecasts for global oil demand.
Prices were also hit late in the week by news of a surprise increase to US energy stockpiles. Losses were limited after Opec ruled out an imminent hike to crude output.
On Thursday, the Organization of Petroleum Exporting Countries lowered its estimate for world oil demand growth in 2007, citing a late winter and high gasoline prices in North America that appear to be reducing consumption.
The cartel, which produces about 40 per cent of the world
