| Kippreport.com

U.S. Crude Futures down $1 On Fed Comments

April 4, 2012 3:46 by kippreport

U.S. crude futures fell by $1 to Wednesday, on worries demand for crude could be curtailed after the U.S. central bank dashed hopes of further economic stimulus.
News that the world’s top oil producer Saudi Arabia would likely keep output high in the event of a stock release also weighed.
By 1114 GMT, U.S. light crude futures were $1.06 lower at $102.95 per barrel, after touching intra day lows of $102.88.
Brent crude futures were meanwhile 76 cents down at $124.10 per barrel.
(Reporting by Zaida Espana; Editing by Alison Birrane)

Tags: $103.01 a barrel, Brent crude, Markets-oil, Saudi Arabia, U.S. crude oil