LONDON: ARAB NEWS
Published — Friday 21 December 2012
Last update 21 December 2012 12:22 am
Oil fell to $ 110 a barrel in choppy trading yesterday as investors weighed mixed US economic data against a backdrop of budget talks that have stoked concerns over outlook for the world’s No.1 oil consumer.
Brent crude slipped 25 cents to $ 110.11 a barrel by 1437 GMT, after settling $1.52 higher in the previous session, the biggest one-day gain since Nov. 19.
The front-month contract tested the 200-day moving average of $ 110.31 earlier in the session. US oil fell 24 cents to $ 89.74.