US woes send oil prices tumbling

US woes send oil prices tumbling

Last updated:

Vienna: More bad economic news from the US sent oil prices tumbling yesterday, with a barrel of crude briefly fetching less than $37 (Dh135.8) in thin Christmas Eve trading.

Expectations of further buildups in US stocks also kept a low ceiling on prices. After dipping as low as $36.63, light, sweet crude for February delivery recovered slightly but was still down $1.87 at $37.11 a barrel by afternoon in Europe in electronic trading on the New York Mercantile Exchange.

A steady stream of dismal US data during the past few months has hammered investor confidence.

Get Updates on Topics You Choose

By signing up, you agree to our Privacy Policy and Terms of Use.
Up Next