Crude Oil Prices Down

Wednesday, December 1, 2010 | 8:01 pm
Oil prices in New York fell on Tuesday (11/30/2010) local time as traders booked profits after rising a day earlier.New York's main contract, light sweet crude for delivery in January, fell 1.62 dollars to close at 84.11 dollars per barrel.
In London, Brent North Sea crude oil for January delivery fell 1.42 dollars to 85.92 dollars per barrel.
"Oil prices fell on concern about bailout Europe to Ireland because we now see the diversion of attention to Spain has led to several broad risk aversion," said Matt Smith of Summit Energy.
Crude oil prices jumped on Monday after Ireland, the banking crisis, approved a bailout package of 113 billion U.S. dollars (85 billion euros), but it just sparked fears of transmission of the euro zone debt.


SOURCE : KOMPAS