LONDON, April 28: World oil prices continued to fall on Thursday in the wake of higher-than-expected crude stocks data from the United States that eased supply worries, dealers said. New York’s main contract, light sweet crude for delivery in June, lost 24 cents to $51.37 per barrel in electronic deals.
In London, the price of Brent North Sea crude oil for delivery in June shed 15 cents to $52.14 per barrel.
“In Europe, (oil prices) are not so weak. It may be that we see a renewal of the selling when the States open and when the funds are back on the market,” said Bache Financial trader Christopher Bellew.
There was “a very big fall in prices yesterday with the US showing big builds in crude which sparked a lot of selling” from speculative funds, he added.—AFP
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