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Oil falls to $36.28 on demand outlook

Oil fell $1 and tipped closer to $36 a barrel,extending an overnight 1.3 per cent decline.

Written by Reuters | Perth |
January 15, 2009 9:50:08 am

Oil fell $1 on Thursday and tipped closer to $36 a barrel,extending an overnight 1.3 per cent decline on another build in US crude stocks and grim data from the world’s major economies.

By 0419 GMT,US light crude for February delivery fell $1.00 to $36.28 a barrel,after settling down 50 cents on Wednesday.

London Brent crude fell 55 cents to $44.53 a barrel.

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