King Salman and Crown Prince offer condolences to Azerbaijan president over plane crash    Shihana to continue serve as chief of reconstituted board of Saudi Authority for Intellectual Property    Ministry of Interior: Over 28 million digital identities issued via Absher    176 teams carry out 1.4 million volunteer hours at Prophet's Mosque in 2024    RCU launches women's football development project    RDIA launches 2025 Research Grants on National Priorities    Damac appoints Portuguese coach Nuno Almeida    GASTAT: Protected land areas grow 7.1% in 2023, making up 18.1% of Kingdom's total land area    Kuwait and Oman secure dramatic wins in Khaleeji Zain 26 Group A action    South Korea becomes 'super-aged' society, new data shows    Trump criticizes Biden for commuting death sentences    Russian ballistic missile attack hits Kryvyi Rih on Christmas Eve    Financial gain: Saudi Arabia's banking transformation is delivering a wealth of benefits, to the Kingdom and beyond    Four given jail terms for Amsterdam violence against football fans    Blake Lively's claims put spotlight on 'hostile' Hollywood tactics    Five things everyone should know about smoking    Saudi Arabia starts Gulf Cup 26 campaign with a disappointing loss to Bahrain    Gulf Cup: Hervé Renard calls for Saudi players to show pride    Do cigarettes belong in a museum    Marianne Jean-Baptiste on Oscars buzz for playing 'difficult' woman    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







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Oil prices retreat on poor demand
AP Published in The Saudi Gazette on 10 - 12 - 2009

Oil prices hit two-month lows Wednesday as government data showed that energy demand continues to slump.
Benchmark crude for January delivery gave up $1.95 to settle at $70.67 a barrel on the New York Mercantile Exchange. Prices dropped as low as $70.53 a barrel earlier in the day.
In London, Brent crude for January delivery fell $2.89 to $72.30 on the ICE Futures exchange.
In other Nymex trading in January contracts, natural gas gave up 21.6 cents to settle at $4.898 per 1,000 cubic feet.

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