Brent Retreats as Weak Demand Outlook Trumps IMF Plan Hopes

摘要

Brent crude oil futures dropped back on Wednesday as a weak demand outlook overshadowed hopes the International Monetary Fund would be able to raise more money to help resolve Europe’s debt crisis. US crude futures retreated, after being up earlier, on news the Obama administration was to reject TransCanada’s $7 billion Canada- to-Texas Keystone crude oil pipeline project, analysts said. After the market closed, the administration announced the rejection of the project.