Concerns for Demand Push Oil Back to $79

18 November 2009 (Last Updated November 18th, 2009 18:30)

Crude oil futures drifted towards $79 a barrel as concerns grew for the rate of oil demand recovery in the US. US crude prices for December delivery fell 46¢ to $79.12 a barrel by 10.10 GMT, lowering on gains from the preview day. Analysts told Reuters that despite prices hit

Crude oil futures drifted towards $79 a barrel as concerns grew for the rate of oil demand recovery in the US.

US crude prices for December delivery fell 46¢ to $79.12 a barrel by 10.10 GMT, lowering on gains from the preview day.

Analysts told Reuters that despite prices hitting above $80 in the previous session, mild weather and abundant oil stocks were limiting the potential upside.