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Oil Off More Than $3 on Demand Forecast

NEW YORK -- Oil prices that last week seemed on an inexorable path toward $100 a barrel slid more than $3 to the $91 level Tuesday after the International Energy Agency cut its demand forecasts and said crude supplies are rising, according to the Associated Press.

Prices also fell after diplomats said Iran has handed over blueprints key to its nuclear program, meeting a central United Nations demand and potentially defusing the country's standoff with the West.

Posted by Peter C. T. Elsworth  at 3:49 PM to Crude oil market | Permalink

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