Price of light American crude oil down to $66.48 per barrel in Asia

GMT 18:02 2014 Friday ,05 December

Arab Today, arab today Price of light American crude oil down to $66.48 per barrel in Asia

American crude oil
Kuala Lumpur - KUNA

Prices of forward deals of the light American crude oil, for January's delivery, dropped in the Asian trades 0.49 percent, reaching USD 66.48 per barrel on Friday, compared to Thursday's rates.
The Brent forward transactions for January's delivery went down 0.66 percent today to USD 69.18 pb, compared to Thursday's rates, while price difference between the light American crude and the Brent oil amounted to USD 2.7 pb.
Crude oil prices are still fluctuated this week in Asian trading as the Organization of Petroleum Exporting Countries' decision (OPEC) took a decision last month at a meeting in Vienna no to cut oil output.
Meanwhile, oil markets faced pressures in Thursday's trading after Saudi Arabia had announced significant discounts on its crude oil to clients in Asia and the United States in an attempt to keep its quota at markets.
It was reported that Libya's huge Sharara oilfield is ready to resume its production which was suspended last month in the aftermath of clashes between militants. The field's production reached 300,000 barrels pd.

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