Srie Hartati

Crude oil is poised for a second weekly decline amid speculation Europe’s sovereign-debt crisis and rising supplies in the U.S., the world’s biggest energy consumer, signaled global fuel demand will be slow to recover.

Crude oil for June delivery fell as much as 78 cents, or 1.1 percent, to $73.62 a barrel, in electronic trading on the New York Mercantile Exchange. It was at $73.97. Yesterday, the contract lost 1.7 percent to $74.40, the lowest settlement since Feb. 12. Futures are set for a 2 percent drop this week.

Brent crude oil for June settlement, which expires today, fell as much as 39 cents, or 0.5 percent, to $79.72 a barrel on the London-based ICE Futures Europe exchange. It was at $79.96 at 1:27 p.m. Singapore time. The more actively traded July future was down 12 cents at $81.31.
(Financeroll)