US crude down $2 on higher Opec output
New York, May 3, 2012
Brent crude futures dropped below their 100-day moving average on Thursday, the first time front-month Brent has moved under that level since January, and US crude fell $2 as economic concerns and higher Opec production weighed on prices.
Brent June crude was down $1.60 at $116.60 a barrel at 10:15 a.m. EDT (1415 GMT), below the $117.34 100-day moving average, and having traded from $116.48 to $118.45.
US June crude was down $2.05 at $103.17 a barrel, having traded from $103.04 to $105.42. – Reuters