Oil prices fall as supply risk premium fades, demand outlook drags
Singapore: Oil prices fell on Friday, erasing more of the gains realised after the September 14 attacks on Saudi Arabian oil facilities, as the rapid return of production capacity from the world’s top exporter squashed risk premiums.
Prices were also pressured by worries of weak global economic growth and its effect on oil demand.
Brent crude futures fell 32 cents, or 0.5%, from the previous session’s close to $62.42 a barrel by 0131 GMT.
