Oil prices start week trading lower amid demand concerns

Oil prices start the week trading lower amid ongoing and mixed economic reports that have kept investors on edge about the outlook for improving energy demand. In early trading, Light crude oil futures for April delivery slid 87 cents to $81.24 a barrel on the NYMEX, while in London, Brent crude oil futures fell 89 cents to $79.39 on the ICE Futures Exchange. Oil prices dipped lower after Iran’s OPEC governor Mohammad Ali Khatibi said the market may be oversupplied later this year if OPEC members, meeting March 17th, fails to comply with oil output limits. Last week crude oil futures jumped as high as $83.16 after the US Commerce Department reported a surprise increase in February retail sales and the IEA said world energy demand this year could be better than previously thought. Further, in its March report, the IEA forecasts that all of the oil demand increase will occur in emerging markets, or in what IEA calls non OECD countries. Oil prices trading down two percent on stronger US dollar Goldman Sachs predicts summer oil price at $92 – $97 range Light oil prices end the week well above $80 trading range Oil prices trading near 2010 highs on latest US jobs data Oil prices trading steady around $80, stronger US dollar The Weekly Oil Futures Wrap at Live Oil Prices Oil prices trading steady after Thursday loss, eyes on dollar Oil prices trading down two percent on latest US jobs data Oil prices slip lower on new China bank reserve rules Oil prices trading around $77 after US oil demand data Crude oil prices trading under $81 eyes on Fed, US dollar Oil prices trading steady, next moves higher to $90? Oil prices extend gains in trading on global demand Brent oil price near $80 mark, OPEC oil shipments down Oil prices trading steady, awaits US crude inventory data Brent oil price trading up on latest positive US GDP data Brent oil price trading under $76 on Greece Worries Crude oil ends weeks trading higher, back near $80 Light oil trading up on heavy buying ahead of EIA report Light oil prices trading around $74, eyes on US Dollar

Here is the original:
Oil prices start week trading lower amid demand concerns