Credit crunch worries weiqh on futures

摘要

Grade futures fell in London and New York, as lingering fears over US economic growth outlooks and the impact of the mortgage crisis on Wall Street banks outweighed the impact of steep declines in US crude and distillate stocks.January Nymex WTI hit an intra-day low on 18 December of 88.88/bl before the contract expired. It reached a front-month high of 93.38/bl on 14 December after the IEA predicted global oil demand would rise by 2. 1mn b/d in 2008, up by 200,000 b/d from its previous forecast.