Dhaka, Bangladesh (BBN)- Deeper recession forecasts, lower than expected declines in stockpiles and falling demand saw crude oil decline this week.
NYMEX WTI lost 2.9 percent to USD 68.94 a barrel while Brent crude lost 2.4 percent over the week to USD 68.94 a barrel, according to reports.
Early in the week, gold fell to a five week low of USD 918.30 an ounce on deeper recession forecasts from the World Bank. The precious metal rebounded back to 935.40 for a weekly loss of 0.4 percent.
BBN/SS/SI/AD-26June09-10:35 pm (BST)