2013-02-23 · Kurt Wallace
Oil and metal prices fall on signs the US may end stimulus
Oil and metals prices retreated this week on worries about the global economy owing to signs that the US could end its cash stimulus program and amid a worsening outlook for the eurozone, analysts said.
OIL: Prices fell on worries of an end to the US stimulus program amid global economic strains and week demand for oil in top consumer nation the US, traders said.
Oil contracts had tumbled more than US$2 on Thursday as traders absorbed poor US jobs data, signs of weaker-than-expected US crude demand and a fall in eurozone business activity.
Brent crude had hit nine-month highs above US$119 a barrel two weeks previously on healthy economic data in the US and China — the world’s two biggest economies.