DJ Oil Prices Fall as Demand Concerns Weigh

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DJ Oil Prices Fall as Demand Concerns Weigh

WTI oil prices fall 1.4% to $87.26 a barrel as investors continue to worry about weakening global demand for oil and other commodities due to high prices. “Crude oil is lower as the Yen slips, renewing Asian demand worries,” says Spartan Capital’s Peter Cardillo in a research note. Last week, Saudi Arabia slashed its price for crude-oil being shipped to Asia, the latest indication that oil-importing nations such as Japan have been struggling to afford crude oil, whose market prices remain 25% higher than a year ago even after declines in prices over the past three months.