Go Finance Reporting in LONDON - Brent crude oil prices fell below USD115 per barrel. This is the first monthly decline this year, as investors weighed prospects for Europe's debt crisis and slow demand so that the economic impact to the United States (U.S.).
On Monday local time, which is a public holiday in the U.S. and UK make the daily trading volume of less than five percent. Holiday season in the U.S. at the weekend, or so-called Memorial Day, marking the official beginning of summer, when gasoline demand typically increases.
Reported by Reuters on Tuesday (05/31/2011), the price of Brent crude slipped 35 cents, or 0.3 percent to USD114, 54 per barrel. Having had time to position USD114. Prices are down nine percent for May, and is the largest decline since May last year.
While the price of U.S. crude fell 21 cents to U.S. $ 100, 38 in late trading on the New York Mercantile Exchange (Nymex). Where Nymex settlement price will not be issued on Monday that all registered trade for May 31.
"The volume of trading in the UK and U.S. markets are very thin. The other factor I can see is the U.S. dollar is slightly stronger, which can put pressure on prices, " said Commerzbank analyst Carsten Fritsch. (GoFinance)
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