Oil falls below US$ 103 on poor global growth outlook

Monday, 29 April 2013 03:03 - - {{hitsCtrl.values.hits}}

LONDON (Reuters): Brent crude oil slid below US$ 103 a barrel on Friday after rising US$ 3 in the past two sessions as investors were cautious over the tepid outlook for growth in the world’s two largest oil consumers, the United States and China.

Brent slipped 66 cents to US$ 102.75 a barrel by 1030 GMT, after touching a low of US$ 102.56, while US crude was down 63 cents at US$ 93.01.

Brent’s premium to US crude futures edged lower after settling at below US$ 10 on Thursday for the first time since January 2012.