Oil trades lower on weak US demand - NDTV.com

Press Trust of India, March 03, 2010 (Singapore) Oil fell in Asian trade on Wednesday as sentiment was dampened by a private report showing weaker US energy demand, analysts said.

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New York's main contract, light sweet crude for April delivery was seven cents lower at USD 79.61 a barrel. The American Petroleum Institute (API), an industry group, said late Tuesday crude stocks in the country rose by 2.67 million barrels in the past week while gasoline reserves increased 909,000 barrels.

Full Story: Oil trades lower on weak US demand - NDTV.com