World oil prices dipped in the Asian trade today as worries over Japan’s nuclear crisis outweighed unrest in West Asia.
New York’s main contract, light sweet crude for delivery in April, lost 37 cents to $97.61 per barrel while Brent North Sea crude for May was down 53 cents at $110.07.
“Uncertainties about radiation causes risk aversion among investors so we’re seeing crude falling,” said Mr Victor Shum, senior principal for Purvin and Gertz international energy consultants in Singapore.
“The equities market in Japan is also falling as a result of the nuclear crisis, which appears to be worsening.”
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.