Bloomberg News

Oil Set for Quarterly Loss as Traders Speculate Economy to Slow

September 30, 2011

Sept. 30 (Bloomberg) -- Oil headed for its biggest quarterly decline since 2008 as U.S. economic reports failed to ease investor concern that growth in the world’s largest crude consumer will slow.

Futures for November delivery were at $82.13 a barrel, down 1 cent, in electronic trading on the New York Mercantile Exchange at 3:17 p.m. Singapore time. The contract has dropped 14 percent since June 30, the biggest quarterly decline since the three months ended Dec. 31, 2008.

Brent oil for November fell 18 cents, or 0.2 percent, to $103.77 a barrel on the London-based ICE Futures Europe exchange.

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net


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