US crude lower a second day on budget uncertainty

Wednesday, 28 November 2012 00:55

Posted by Muhammad Iqbal

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NEW YORK: US crude futures slipped on Tuesday, falling a second straight day as uncertainty about the US budget negotiations fueled concerns about curbed demand for petroleum if looming mandated tax increases and spending cuts are not averted.

US January crude fell 56 cents, or 0.64 percent, to settle at $87.18 a barrel, having traded from $86.83 to $88.25.