News Column

Oil Falls on Fiscal Concerns

Dec. 14, 2012

Crude prices fell Thursday on concerns about the looming "fiscal cliff" in the United States.

Light, sweet crude for January delivery lost 88 cents, or 1.01 percent, to settle at 85.89 dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery also slipped and last traded around 108 dollars a barrel.

Source: Copyright Xinhua News Agency - CEIS 2012