Sliding oil prices head towards $100 mark
 01 Apr 2008
Oil prices continued the downward trend demonstrated in yesterday's market.
Values of the commodity dipped below $105 (£53.02) a barrel yesterday. This represented a dip of $1.28 to reach $104.34 a barrel.
However, in news which may affect those with home heating oil, oil prices weakened again today, falling to $101.40 a barrel, AFP reports.
Senior principal at Purvin and Gertz energy consultancy Victor Shum told the news agency that demand for oil in the US has dropped.
"Market sentiment has turned bearish given the latest data out of the US, which showed softening demand," he said.
He added that pricing has been "pulled back" after first quarter profits.
The global economy is worrying oil markets, added Bart Melek, an analyst at BMO Capital Markets.
Analysts grew concerned last week when it was reported that an attack had been made on an export oil pipeline in Basra, Iraq.
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