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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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