Oil Falls to $108 On Demand Concerns

11 April 2011 (Last Updated April 11th, 2011 18:30)

US crude dipped to $108 a barrel this morning due to speculations about decreasing demand and high fuel prices. US crude and Brent crude fell by more than $1.50 a barrel, resulting in prices of $108 and $122 a barrel, respectively, reports Reuters. The nascent signs of a fal

US crude dipped to $108 a barrel this morning due to speculations about decreasing demand and high fuel prices.

US crude and Brent crude fell by more than $1.50 a barrel, resulting in prices of $108 and $122 a barrel, respectively, reports Reuters.

The nascent signs of a fall in US oil demand could affect prices, as could the possibility of an armistice in Libya and impending elections in Nigeria.