liquid petroleum futures 2011 - Crude Ends Lower After Japan Quake

liquid petroleum futures 2011 - Crude Ends Lower After Japan Quake : Crude futures settled lower Friday, after an 8.9-magnitude earthquake in Japan created expectations for a drop in demand from the world's third-largest oil consumer.

Light, sweet crude for April delivery fell as low as $99.01 a barrel early in the session before recovering to settle $1.54, or 1.5%, lower at $101.16 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures fell $1.59 to $113.84 a barrel.

Oil prices weakened as markets assessed the damage to Japan's refining capacity and the impact on overall crude demand in the country, after the earthquake hit earlier Friday. Japan, which consumes 4.4 million barrels of crude oil a day, continues to be rocked by powerful aftershocks after the initial earthquake unleashed a tsunami that sent tens of thousands fleeing their homes. Read More....

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