Oil prices fell today as investors assessed the impact of the release of the US Federal Bank’s open ended stimulus measures on oil demand.
Brent crude for November delivery fell 24 cents at $113.55 a barrel, while US crude was down trading 12 cents lower at $96.50 a barrel.
Price fluctuations were also triggered by lower-than-normal trading volumes due to a Jewish holiday, a drop in US equities and the euro.
The US Government is considering a release from the strategic petroleum reserve but did not provide any details.
Meanwhile, anti-Western demonstrations sparked by a film mocking Islam’s Prophet Mohammad continued, and tensions between the Western nations and Iran regarding its nuclear programme also affected prices, reports Reuters.
Image: The falling value of the euro has an impact on crude prices worldwide. Photo courtesy of: JLogan.
