The price of oil has continued to fall in the final hours based on the expectation that the weak economy in developed countries will reduce demand for products derived from crude oil such as gasoline or oil.
Tetsu Emori, an analyst in Tokyo, said that the market is selling by weak economic numbers in the United States, Europe and Japan where growth and demand have declined considerably.
During the first business in New York Mercantile Exchange, light crude presented a fall of 94 cents to 123.14 dollars per barrel, recalling that yesterday lost another 2.69 U.S. dollars by closing the day at 124.08 dollars.
This drop is mainly due to announced the U.S. Department of Commerce, which announced that gross domestic product rose only 1.9% during the second quarter, despite tax advantages applied to push the economy.