Oil down in Asia on Japan worries

Updated On: Mar 17, 2011

World oil prices dipped today as worries over Japan's nuclear crisis outweighed unrest in the Middle East, according to analysts.
“Uncertainties about radiation causes risk aversion among investors so we're seeing crude falling,” said Victor Shum, senior principal for Purvin and Gertz international energy consultants in Singapore.
The dip in oil prices could be attributed to traders’ fear the disaster could affect crude oil consumption in Japan, the world's third largest economy and the third largest oil-consuming country.

Related Article