Singapore: Oil mixed in Asian trade

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Oil barrels
Singapore, April 20: Oil was mixed in Asian trade today as traders worried about high crude prices weighing down demand while unrest in the Arab world persists, analysts said.

New York's main contract, light sweet crude for delivery in June rose 13 cents to USD 108.41 a barrel, while Brent North Sea crude for June eased 13 cents to USD 121.20.

"With little in the way of headlines concerning geopolitics dominating the market, markets have tended to focus on the prospects of demand deteriorating at high price levels," said a Barclays Capital report.

"Crucially, with forecasts so dominated by the pace of demand growth in coming years, it does start to raise the question of how demand will react to higher prices and which is the key driver of the market," it said. Markets fell Monday after the bearish Standard

PTI

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