Oil fell in Asian trade on Friday
as investors took profits after sharp overnight gains, analysts said.
New York's main contract, light sweet crude for November
delivery fell 10 cents to $79.58 a barrel and Brent North Sea crude, also for
November settlement, eased 38 cents to $102.44.
"There is an easing (of prices) on profit-taking,"
said Victor Shum, a Singapore-based analyst with energy consultancy Purvin and
Gertz.
"The easing is not unusual, considering the rather sharp
gains following good macroeconomic news coming out of, on the one hand Europe,
and some optimistic jobs data from the US," he told AFP.
Crude prices surged in New York trade Thursday after the
European Central Bank announced measures to help cash-strapped banks in the
eurozone under pressure from the public debt crises in Greece, Ireland and
Portugal.
In the United States, the world's largest economy and oil
consumer, initial jobless claims for the week ending October 1 were better than
expected, at 401,000.
However, analysts expect oil prices to gyrate amid persistent
worries over the global economy.
"The economic outlook in Europe and US remains
uncertain," Shum said.
Source : AFP
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