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Oil prices fall on Chinese demand worries.
(From Irish Independent)
OIL prices slipped yesterday amid worries that Chinese fuel demand could be dampened by a cooling economy.
Chinese stocks dropped nearly 9pc yesterday on speculation that China's government may take steps to slow its rapidly expanding growth by hiking interest rates or taking other steps to reduce money available for borrowing.
Light, sweet crude for April delivery slipped 28 cents to $61.11 in late morning trading on the New York Mercantile Exchange, after dropping as much as $1.33 in earlier trading.
Brent crude for April fell 26 cents at $61.07 a barrel yesterday on the ICE Futures exchange.
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