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Moneycontrol.com >> Message Board >> View Messages >> Oil & Gas - Sector
   You are here :     Moneycontrol     MMB    Market View      Oil & Gas - Sector                         Most active discussions of 2006 , 2007 & 2008
Do not blame INDIA (1)   24-Jul-08 11:16Tracked by (0)  
Posted by:   zoombusiness on ( 24-Jul-08 11:16 )
Oil prices steadied in Asian trading Thursday after shedding nearly US$4 a barrel in the previous session on concerns that high fuel prices are dampening demand in the world's biggest energy consumer.
It was USA whose demand at home increased oil prices and it is USA whose low demand brough back lower level 124 at present. There is more expectations that it will reach more 10 $ lower level. It will settle around 114 - 115.


A weekly report by the U.S. Energy Department's Energy Information Administration showed that gasoline demand over the four weeks ended July 18 was 2.4 per cent lower than a year earlier, offering further evidence that Americans are cutting back on fuel.

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